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RESERVATION PRICE: The lowest price at which a supplier is willing to supply any amount of a good. This is usually based on the minimum cost of production. For labor, it's the lowest wage that makes it worthwhile to get up in the morning, miss your favorite daytime television shows, and go to work.
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TAXATION PRINCIPLES Taxes are the mandatory payments made by members of society to governments to finance government operations. The study of public finance identifies several key principles of taxation -- tax effects (revenue and allocation), tax proportionality (proportional, progressive, and regressive), tax payments (benefit and ability-to-pay), tax equity (horizontal and vertical).
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for attractive cable television service repair people.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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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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TP
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