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ZERO-SUM GAME: A situation in which a fixed amount is divided up among the winners and losers. In a zero-sum game the wins equal the losses. Many stock market, or financial market, exchanges are zero-sum. One person buys low and sells high, while another buys high and sells low. The wealth in such transactions are merely transferred from one person to another. "Productive" market transactions, in contrast, are not zero-sum. The act of producing goods and services from resources that are consumed to satisfy wants and needs results in a net gain to society.
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KEYNESIAN CROSS A diagram illustrating the basic Keynesian theory of macroeconomics, with aggregate expenditures measured on the vertical axis and aggregate production measured on the horizontal axis, with the relation between aggregate expenditures and aggregate production represented by a positively-sloped aggregate expenditures line. The "cross" aspect of this diagram is the intersection between the aggregate expenditures line and a 45-degree line indicating every point of equality between aggregate expenditures and aggregate production. The "Keynesian" aspect of this diagram is derived from John Maynard Keynes, the developer and namesake of Keynesian economics.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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ACBS
Accrediting Commission for Business Schools
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