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MARKET FAILURES: Conditions in which a market does not efficiently allocate resources to achieve the greatest possible consumer satisfaction. The four main market failures are--(1) public good, (2) market control, (3) externality, and (4) imperfect information. In each case, a market acting without any government imposed direction, does not direct an efficient amount of our resources into the production, distribution, or consumption of the good.
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DISTRIBUTION STANDARDS Alternative criteria for distributing the income generated from the production of goods and services to members of society. These criteria determine how total income is divided up across the economy, effectively answering the For Whom? question of allocation. The three most important distribution criteria are contributive standard, equality standard, and needs standard.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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USDA
United States Department of Agriculture
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