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VALUE IN EXCHANGE: The ability to trade an item, especially money, for other goods and services that can then be used to satisfy wants and needs. Value in exchange means that value, that is satisfaction, is obtained indirectly through the acquisition of something else. For an item to have value in exchange it need NOT have value in use, value obtained directly from the consumption of a good or service.
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RATIONING The distribution or allocation of a limited commodity, usually accomplished based on a standard or criterion. The two primary methods of rationing are markets and governments. Rationing is needed due to the scarcity problem. Because wants and needs are unlimited, but resources are limited, available commodities must be rationed out to competing uses.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"I believe that every right implies a responsibility, every opportunity, an obligation, every possession, a duty. " -- John D. Rockefeller, industrialist
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ARIMA
Autoregressive Integrated Moving Average
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