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MARKET-ORIENTED ECONOMY: A mixed economy that relies heavily on markets to answer the three basic questions of allocation, but with a modest amount of government involvement. While it is commonly termed capitalism, market-oriented economy is much more descriptive of how the economy is structure.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who doesn't particular care how something looks as long as it works, as long as it does the job. Family and friends realize that you carefully consider every expenditure that you make. Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for defective microphones. You should consider shopping at stores or businesses beginning with the letter D, but do not buy any products with a serial number or product code containing the number 192335. 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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SUPPLY SPACE The area on or above a supply curve that indicates all possible price-quantity combinations acceptable to sellers. Buyers are willing and able to purchase any price-quantity combination that places them on or above the supply curve, but not above.
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On The Lookout For A RECESSIONOne pitfall facing any pedestrian who explores the intricate details of the economy is large potholes lurking along the path. LOOK OUT! You can probably expect a few bumps and bruises from abruptly introducing your face to the pavement. But, after the cast hardens and the gashes have been stitched, you can be on your way. A little more experienced, no doubt, but forging ahead in spite of it all. Our economy also steps into an occasional pothole in route to an expanding economic pie. Recession is the nifty term we use for this sort of economic pothole and it will be are our topic for the next few pages. OH NO! LOOK OUT!
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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OCC
Options Clearing Corporation
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