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NET FOREIGN FACTOR INCOME: The difference between factor payments received from the foreign sector by domestic citizens and factor payments made to foreign citizens for domestic production. Net foreign factor income, abbreviated NFFI, is the key difference between gross DOMESTIC product and gross NATIONAL product in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. It is also an important difference between national income (the resource cost of production) and gross/net domestic product (the market value of production).
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SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
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GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for empty parking spaces that appear to be near the entrance to a store. Your Complete Scope
This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Nearly all men can stand adversity; but if you want to test a manžs character, give him power. " -- Abraham Lincoln, 16th U.S. President
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SMSA Standard Metropolitan Statistical Area
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