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NONDURABLE: A good bought by consumers that tends to last for less than a year. Common examples are food and clothing. The notable thing about nondurable goods is that consumers tend to continue buying them regardless of the ups and downs of the business cycle.
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CAPTURE THEORY OF REGULATION The notion that a government agency established to regulate an industry for the benefit of society acts instead for the benefit of the industry. In effect, the government agency is "captured" by the industry it is regulating. The capture theory of regulation indicates that government regulator acts as the decision-making "head" of a now monopolized industry. This is achieved by a "rotating door" between the government agency and the industry, with members of the regulating agency being former and future employees of the industry. Rather than promoting efficiency, the regulating agency creates an inefficient allocation of resources.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for crowded shopping malls.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Divide each difficulty into as many parts as is feasible and necessary to resolve it." -- Rene Descartes
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ATS
Automatic Transfer Service
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