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April 11, 2021 

AmosWEB means Economics with a Touch of Whimsy!

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SCIENTIFIC METHOD: A structured way of investigating and explaining the operation of the world by testing and verifying hypothesized relationships. The scientific method is a process of discovery, a method of explaining phenomena that can be better understood with an overview of theory, principles, world view, hypothesis, and verification.

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BLACK DISMALAPOD
Your compete MICRO*scope for today

You are the type of person who would need a decade of uninterrupted good luck just to raise your spirits to the level of melancholy. Family and friends honestly think that YOU are the black sheep of the family. Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for malfunctioning pocket calculators. You should consider shopping at stores or businesses beginning with the letter V, but do not buy any products with a serial number or product code containing the number 527084. Your preferred shopping venue is convenience stores. Your special symbol is the pound sign (#).


Is this You?

As a Black Dismalapod, you tend to be grumpy and gloomy, morose and melancholy, and often downcast and disgruntled. You don't really trust others and expect only the worst from them. You are seldom disappointed. You tend to spend a lot of time by yourself. Sadly, you recognize that you are destined to come up on the short end of any economic transaction.


This isn't me! What am I?
SCREENING

When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Screening occurs when those with limited information try to identify indicators suggesting more complete information. It is used in markets with adverse selection and moral hazard, especially in labor markets and in the provision of insurance. Common methods of screening include aptitude tests, affiliations, past behavior, and personal characteristics. A related method is signalling.

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Those Astronomical ATHLETE SALARIES

It's a great day to take in a ball game, don't you think? With our hustling, bustling jaunt through the economy, we probably deserve a relaxing afternoon of hot dogs and peanuts with my favorite baseball team -- the Shady Valley Primadonnas. Of course the hot dogs and peanuts are overpriced, and you might need a second mortgage on your house to buy the ticket, but the expense is worth watching of the finest athletes in the world display their world-class athletic abilities. We might even coax an autograph from the Primadonnas all-star centerfielder -- Harold "Hair Doo" Dueterman.
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APLS

Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life."

-- Victor Hugo, Writer

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Marginal Cost Pricing
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