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FIRST RULE OF SCARCITY: The first of seven basic rules of the economy. It is the fundamental fact of economic life that he world is faced with limited resources but unlimited wants and needs satisfied from these resources.

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TOTAL UTILITY CURVE

A curve illustrating the relation between the total utility obtained from consuming a good and the quantity of the good consumed. The shape of the total utility curve, increasing at a decreasing rate, reflects the law of diminishing marginal utility. The reason for this is that slope of the total utility curve is marginal utility, meaning the total utility curve can be use to derive the marginal utility curve.

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APLS

ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?

Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
"Love looks through a telescope; envy, through a microscope. "

-- Josh Billings, humorist

DTI
Department of Trade and Industry (UK)
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