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BLACK MARKET: An illegal market in which the price of the goods sold is above a legally set maximum price. A black market invariable results whenever the government imposes a price ceiling on a good. A common example of a price ceiling is rent controls on apartments in many large cities. Although landlords cannot "legally" rent apartments for more than the specified maximum, they often do so "illegally" by charging "finders fees" and "tenant association dues." In so doing, they have entered into the realm of black markets.
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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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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for letters from the Internal Revenue Service.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage. " -- Jack Welch, General Electric chief executive
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LIFO
Last In First Out
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