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ACCESSIBILITY: The location of economic activity (especially in terms of land) relative to other activities. As real estate agents are prone to say, "The three most important factors in real estate are 'location, location, location.'" Accessibility determines how easy or difficult (read this as costly) it is to allocate good, services, and resources. Transportation is a key factor in accessibility. Efficient, low cost transportation systems improve accessibility.
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PRIVATE GOODS Goods characterized by rival consumption and the ability to exclude nonpayers. Private goods are one of four types of goods differentiated by consumption rivalry and nonpayer excludability. The other three goods are public (nonrival consumption and nonpayers cannot be excluded), common-property (rival consumption and nonpayers cannot be excluded), and near-public (nonrival consumption and nonpayers can be excluded). Rival consumption and the ease of excluding of nonpayers means private goods can be efficiently exchanged through markets.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either semi-gloss photo paper that works with your neighbor's printer or a birthday gift for your father that doesn't look like every other birthday gift for your father. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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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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MSE
Minimum Efficient Scale
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