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December 4, 2025 

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USER CHARGE: A tax that's disguised as a price--a charge for the use of a publicly provided good. Government produces and supplies a number of near-public goods, like education, libraries, parks, and transportation systems. The "prices" for these goods are user charges. The logic is that people who benefit from the good and are willing to pay, should pay for them. While this helps pay production costs, it tends to be inefficient.

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FIRST RULE OF SCARCITY

The first of seven basic rules of the economy, stating that the world is faced with limited resources but unlimited wants and needs satisfied from these resources. Scarcity is THE economy problem upon which the entire study of economics is built. A primary implication of scarcity is that the pursuit of an activity results in an opportunity cost.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a handcrafted spice rack or a cell phone case. Be on the lookout for high interest rates.
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This isn't me! What am I?

The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
"Only great minds can afford a simple style."

-- Stendhal, writer

MRP
Marginal Revenue Product
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