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FIRM: An organization that combines resources for the production and supply of goods and services. The firm is used by entrepreneurs to bring together otherwise unproductive resources. The key role played by a firm is the production of output using the economy's scarce resources. Firm's are the means through which society transforms less satisfying resources into more satisfying goods and services. If firms didn't do this deed, then something else would. And we would probably call those something elses firms.
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MACROECONOMIC SECTORS The four aggregate sectors of the macroeconomy--household, business, government, and foreign--that reflect four key macroeconomic functions and are responsible for four expenditures on gross domestic product. These four sectors are the primary "actors" on the macroeconomic stage. Macroeconomic theories then explain macroeconomic phenomena by exploring the interaction among these four sectors.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"I feel sorry for the person who canžt get genuinely excited about his work. Not only will he never be satisfied, but he will never achieve anything worthwhile. " -- Walter Chrysler, automaker
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SRO
Self-regulatory Organizations
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