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FIRM: An organization that combines resources for the production and supply of goods and services. The firm is used by entrepreneurs to bring together otherwise unproductive resources. The key role played by a firm is the production of output using the economy's scarce resources. Firm's are the means through which society transforms less satisfying resources into more satisfying goods and services. If firms didn't do this deed, then something else would. And we would probably call those something elses firms.
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YELLOW CHIPPEROON
Your compete MICRO*scope for today
You are the type of person who is never dissuaded from having a good time while shopping, be it high prices, bad weather, crowded stores, belligerent clerks, or restraining orders. Family and friends wonder how you can possible enjoy shopping as much as you do. Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for deranged pelicans. You should consider shopping at stores or businesses beginning with the letter P, but do not buy any products with a serial number or product code containing the number 791231. Your preferred shopping venue is shopping malls. Your special symbol is the asterisk (*).
Is this You?
As a Yellow Chipperoon, you are happy, happy, happy. You enjoy everything about life and about shopping. You love shopping. You love buying. You love spending. You love to compare products and prices. You love the crowds. You love chatting with the store clerks. You love every bit of the buying process. Nothing dissuades you from having a good time shopping, whether you're buying a box of facial tissues or a new house. Does it get any better than spending an afternoon at the shopping mall? No way!
This isn't me! What am I?
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PROCESS INNOVATION An innovation that is an improvement in an existing product, technology, or idea or an improvement in the way a product, technology, or idea is produced. The contrast is with a product innovation, which is an innovation of a new product, technology, or idea that generates a beneficial improvement in society and the economy; one that is fundamentally different from existing products, technologies, or ideas.
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A Brief Introduction To Get You StartedThrough undaunted determination, sheer luck, or a missed turnpike exit, you have happened upon A Pedestrian's Guide to the Economy. You'll find hours of reading pleasure contained within this site, with more entertainment value per calorie than most office memos. A Pedestrian's Guide to the Economy, however, is more than a recreational web site. As a handy reference source, it provides answers to many of the most asked, a few of the least asked, and some of the never asked questions about the economy.
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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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"Something in human nature causes us to start slacking off at our moment of greatest accomplishment. As you become successful, you will need a great deal of self-discipline not to lose your sense of balance, humility and commitment." -- H. Ross Perot
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T-BILL
Treasury Bill
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