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UNLIMITED WANTS AND NEEDS: A characteristic of people such that they are never totally satisfied with the quantity and variety of goods and services. This is one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is limited resources. Unlimited wants and needs essentially means that people never get "enough"--that there's always something else that they would want or need.
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ASSUMPTIONS, PRODUCTION POSSIBILITIES The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for vindictive digital clocks with revenge on their minds.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"The greatest use of life is to spend it for something that will outlast it." -- William James, psychologist
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BOP
Balance of Payments
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