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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.
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PSYCHOLOGICAL LAW A principle of consumption behavior proposed by John Maynard Keynes stating that people have the propensity to spend a large fraction, but not all, of any additional income received. This psychological law is not so much a principle of psychology as an economic observation about consumption spending and is related to the notion of effective demand.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for small children selling products door-to-door.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"I feel sorry for the person who canžt get genuinely excited about his work. Not only will he never be satisfied, but he will never achieve anything worthwhile. " -- Walter Chrysler, automaker
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SELA
Latin American Economic System
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