|
|
GOODS: When used without an adjective modifier (like "final" goods or "intermediate" goods), this generically means physical, tangible products used to satisfy people's wants and needs. This term good should be contrasted with the term services, which captures the intangible satisfaction of wants and needs. As such, you will frequently see the plural combination of these two phrases together "goods and services" to indicate the wide assortment of economic goods produced using the economy's scarce resources. As you might imagine this general notion of wants and needs satisfying goods and services pops up throughout the study of economics.
Visit the GLOSS*arama
|
|
|
|
|
PRIVATE SECTOR The combination of households and businesses into a single group. It is termed the private sector to indicate that decisions are made by private individuals (either consumers or producers) in pursuit of their personal self-interests. The contrasting phrase is public sector, in which decisions are made by governments on behalf of the public.
Complete Entry | Visit the WEB*pedia |
|
|
|
In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
|
|
|
"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
|
|
DCE
Domestic Credit Expansion
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
