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VOLUNTARY UNEMPLOYMENT: Unemployment that results when resources which are willing and able to engage in production choose not to produce output. These are resources (especially labor) that decide to leave one job, often in search of another. The contrast to voluntary unemployment is involuntary unemployment, in which resources are forced out of work.
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ELASTIC DEMAND The general demand relation in which relatively small changes in price cause relatively large changes in quantity demanded. Small changes in price cause relatively large changes in quantity demanded or the percentage change in quantity demanded is larger than the percentage change in price. This characterization of elasticity is most important for the price elasticity of demand. Elastic demand is one of two general elasticity relations for demand. The other is inelastic demand.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a really, really exciting, action-filled video game or a coffee cup commemorating the moon landing. Be on the lookout for pencil sharpeners with an attitude.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects. " -- Alexis de Tocqueville, statesman, author
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AAXICO
American Air Export and Import Company
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