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ADAM SMITH: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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ECONOMIC EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or allocative efficiency.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either a video camera with stop action features or one of those memory foam pillows. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"The truth of the matter is that you always know the right thing to do. The hard part is doing it." -- Norman Schwarzkopf, US Army general
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WAPM
Weak Axiom of Profit Maximization
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