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OTHER THINGS EQUAL: A common assumption used in economic analysis that often goes by the technical Latin term, ceteris paribus. This assumption is used when identifying the relation between two specific variables, such as price and quantity for the law of demand. In so doing, the causal connection between the two variables can be identified. However, economic analysis becomes more interesting and useful when this assumption is relaxed, which makes it possible to examine how these "other things" affect the relation under study.
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ELASTICITY AND DEMAND SLOPE The slope of a straight-line demand curve, one with a constant slope, has constantly changing elasticity. It includes all five elasticity alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic. No two points on a straight-line demand curve have the same elasticity.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for the last item on a shelf.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. " -- Steve Jobs, Apple Computer co-founder
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NDP
Net Domestic Product
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