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POVERTY: A condition in which a person lacks many of the basic necessities of life and the income needed to buy them. If these seems like a fuzzy concept, it is. Poverty is often a subjective notion, because the notion of basic necessities is also subjective. While everyone needs food for life, will a handful of wild grain do the trick or do you need an evening of fine dining? While there are no once-and-for-all, clear-cut answers, our good friends with the government have developed a so-called poverty line used as an official measure of who's in poverty and who's not. Most importantly, this poverty line is used to determine who's eligible to receive welfare and other forms of public assistance.
Visit the GLOSS*arama
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who could have been the inspiration for the phrase "salt of the earth". Family and friends wonder how you can be so happy given what you have. Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for cardboard boxes. You should consider shopping at stores or businesses beginning with the letter M, but do not buy any products with a serial number or product code containing the number 615874. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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ABSTRACTION Simplifying the complexities of the real world by ignoring (hopefully) unimportant details while doing economic analysis. Abstraction is an essential feature of the scientific method. Hypothesis verification, model construction, and comparative static analysis are not possible without abstraction.
Complete Entry | Visit the WEB*pedia |
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Charging Up Your CREDIT CARDS (aka Plastic Money)Here's the scene: You've made your monthly stop (for the second time this week) at the Mega-Mart Discount Warehouse Super Center for a few essentials -- cashews, soap, licorice, garden hose, peanut clusters, color television, and a large inner tube for whitewater rafting. Do you pay with a check or whip out your Interstate OmniBank Platinum Diamond Express credit card? Credit card? Good choice. You don't actually have to PAY for the stuff that you're buying -- at least not right away. Your bank account is safe.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. Most men succeed because they are determined to. " -- George Allen, U.S. senator
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BACS
Bankers Automated Clearing Services
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