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DEMAND DETERMINANT: One of five basic basic ceteris paribus factors that affect demand, but which are assumed constant when a demand curve is constructed. Changes in any one causes a shift of the demand curve. The five demand determinants are: income, preferences, other prices, buyers' expectations, and number of buyers.
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ECONOMIC SYSTEM The assorted institutions that society uses to answer the three basic questions of allocation and address the fundamental problem of scarcity. Another, more popular term for economic system is economy. An economy, or economic system, is the structural framework in which households, businesses, and governments undertake the production and consumption decisions that allocate limited resources to satisfy unlimited wants and needs.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a country wreathe or galvanized steel storage shelves. Be on the lookout for slightly overweight pizza delivery guys.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult. " -- Seneca, statesman, dramatist, philosopher
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CPI
Consumer Price Index
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