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BUYERS' INCOME, DEMAND DETERMINANT: The income that buyers have available to purchase a good, which is assumed constant when a demand curve is constructed. Buyers' income is one of five demand determinants that shift the demand curve when they change. The other four are buyers' preferences, other prices, buyers' expectations, and number of buyers.
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OPPORTUNITY COST, PRODUCTION POSSIBILITIES The production possibilities analysis, which is the alternative combinations of two goods that an economy can produce with given resources and technology, can be used to illustrate opportunity cost--the highest valued alternative foregone in the pursuit of an activity.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Don't be afraid of the space between your dreams and reality. If you can dream it, you can make it so." -- Belva Davis, Journalist
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FASB
Financial Accounting Standards Board
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