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ADAM SMITH: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who never wavers in the pursuit of a goal once you have deemed it worth pursuing. Family and friends occasionally strap large packages to your back for no apparent reason. Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for jovial bank tellers. You should consider shopping at stores or businesses beginning with the letter C, but do not buy any products with a serial number or product code containing the number 329813. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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SHORT-RUN AGGREGATE SUPPLY AND MARKET SUPPLY The short-run aggregate supply curve, or SRAS curve, has similarities to, but differences from, the standard market supply curve. Both are positively sloped. Both relate price and quantity. However, the market supply curve is positively sloped due to the law of diminishing marginal returns and the short-run aggregate supply curve is positively-sloped due to inflexible prices, the pool of natural unemployment, and imbalances in real resource prices.
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A Brief Introduction To Get You StartedThrough undaunted determination, sheer luck, or a missed turnpike exit, you have happened upon A Pedestrian's Guide to the Economy. You'll find hours of reading pleasure contained within this site, with more entertainment value per calorie than most office memos. A Pedestrian's Guide to the Economy, however, is more than a recreational web site. As a handy reference source, it provides answers to many of the most asked, a few of the least asked, and some of the never asked questions about the economy.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"No great performance ever came from holding back. " -- Don Greene, motivational coach, former Green Beret
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MC
Marginal Cost
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