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ALLOCATIVE EFFICIENCY: Obtaining the most consumer satisfaction from available resources. Allocative efficiency means that our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources -- that is, of addressing the problem of scarcity.
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SHORT-RUN PRODUCTION ANALYSIS An analysis of the production decision made by a firm in the short run, with the ultimate goal of explaining the law of supply and the upward-sloping supply curve. The central feature of this short-run production analysis is the law of diminishing marginal returns, which results in the short run when larger amounts of a variable input, like labor, are added to a fixed input, like capital. A contrasting analysis is long-run production analysis.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"How wonderful it is that nobody need wait a single moment before starting to improve the world. " -- Anne Frank, diarist
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NINOW
Non Interest Bearing NOW Account
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