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INCOME ELASTICITY OF DEMAND: The relative response of a change in demand to a relative change in income. More specifically the income elasticity of demand can be defined as the percentage change in demand due to a percentage change in buyers' income. The income elasticity of demand quantitatively identifies the theoretical relationship between income and demand.
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SUPPLY PRICE The minimum price that sellers are willing and able to accept for a given quantity of a good. While sellers might be willing and able to accept more than the supply price for a given quantity, they are not willing and able to accept less. The supply curve is a plot of the supply price for each quantity.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either a T-shirt commemorating the second moon landing or a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for defective microphones.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Success is more a function of consistent common sense than it is of genius. " -- An Wang, industrialist
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BEA
Bureau of Economic Analisys
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