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DISCRIMINATION: Treating people differently based on some sort of group characteristic--like race, ethnic origin, or gender--rather then individual abilities. Discrimination is usually most prominent in employment and housing, but can filter into all aspects of life in many subtle ways. Discrimination tends to be inefficient because it limits the number of buyers or sellers that have access to a given market. Those who discriminate in this manner are, in essence, willing to pay extra for the privilege of associating only with "their own kind."
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SAVING FUNCTION A mathematical relation between saving and income by the household sector. The saving function can be stated as an equation, usually a simple linear equation, or as a diagram designated as the saving line. This function captures the saving-income relation, the flip side of the consumption-income relation that forms one of the key building blocks for Keynesian economics. The two key parameters of the saving function are the intercept term, which indicates autonomous saving, and the slope, which is the marginal propensity to save and indicates induced saving. The injections-leakages model used in Keynesian economics is based on the saving function.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
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WIPO
World Intellectual Property Organization
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