|
|
NEAR-PUBLIC GOOD: A good that's easy to keep nonpayers from consuming, but use of the good by one person doesn't prevent use by others. The trick with a near-public good is that it's easy to keep people away, and thus you can charge them a price for consuming, but there's no real good reason to do so. From an efficiency view, the more people who consume a near-public good, the better off society. This mixture of nearly unlimited benefits and the ability to charge a price means that some near-public goods are sold through markets and others are provided by government. For efficiency's sake, none should be sold through markets.
Visit the GLOSS*arama
|
|
|
|
|
EXPANSION A phase of the business cycle characterized by a general period of rising economic activity. An expansion is one of two basic business cycle phases. The other is contraction. The transition from expansion to contraction is termed a peak and the transition from contraction to expansion is termed a trough. The early phase of an expansion is commonly termed a recovery.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for rusty deck screws.
Your Complete Scope
This isn't me! What am I?
|
|
|
Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
|
|
|
"Love looks through a telescope; envy, through a microscope. " -- Josh Billings, humorist
|
|
IBB
International Bank Bonds
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
