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INEFFICIENCY: When the economy is NOT obtaining the highest level of consumer satisfaction from the available resources. Inefficiency occurs if it is possible to reallocate resources in a way that would generate greater satisfaction.
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COMMODITY MONEY A medium of exchange (money) that has both value in use and value in exchange. Commodity money is first and foremost a commodity that provides users with satisfaction of their wants and needs. However, it also has the secondary function of acting as a medium of exchange for the economy. In the march toward economic complexity, commodity money emerged from barter exchanges, but then ultimately gave way to modern fiat money.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for deranged pelicans.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"The truth of the matter is that you always know the right thing to do. The hard part is doing it." -- Norman Schwarzkopf, US Army general
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CACM
Central American Common Market
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