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MARKET EQUILIBRIUM: The state of equilibrium that exists when the opposing market forces of demand and supply exactly offset each other and there is no inherent tendency for change. Once achieved, a market equilibrium persists unless or until it is disrupted by an outside force. A market equilibrium is indicated by equilibrium price and equilibrium quantity.
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FALLACY OF COMPOSITION The logical fallacy of arguing that what is true for the parts is also true for the whole. In the study of economics, this takes the form of assuming that what works for parts of the economy, such as households or businesses, also works for the aggregate, or macroeconomy. The contrasting fallacy is the fallacy of division.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a flea market wanting to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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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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"In a restless, creative business with an emphasis on experiment and development, ideas are the lifeblood." -- Richard Branson, Virgin Group founder
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UR
Unemployment Rate
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