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LAW OF DIMINISHING MARGINAL UTILITY: The principle stating that as more of a good is consumed, eventually each additional unit of the good provides less additional utility--that is, marginal utility decreases. Each subsequent unit of a good is valued less than the previous one. The law of diminishing marginal utility helps explain the negative slope of the demand curve and the law of demand.
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AGGREGATE SUPPLY DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the long-run aggregate supply curve. A decrease in aggregate supply in the long-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock is a smaller level of full-employment real production.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for a thesaurus filled with typos.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Nothing will ever be attempted if all possible objections must first be overcome. " -- Samuel Johnson, essayist, critic, lexicographer
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RMS
Real Market Share
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