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INCREASING OPPORTUNITY COST: The proposition that opportunity cost, the value of foregone production, increases as more of a good is produced. This 'law' is most important to the slope of the production possibilities curve. It generates the convex shape of the curve, making the curve flat at the top and steep at the bottom.
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STAR TREK SCARCITY A science-fiction phenomenon that emerged in the second half of the 20th century, which not only entertained millions of fans worldwide for decades, but also can be used to illustrate important economic concepts such as scarcity.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Just as iron rusts from disuse, even so does inaction spoil the intellect. " -- Leonardo da Vinci, architect, artist
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PRO RATA
According to the Rate (Latin)
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