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July 1, 2022 

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FALLACY: A logical error in an argument or evaluation of a policy. The six common fallacies that surface in economic analysis are: false cause, personal attack, division, composition, false authority, and mass appeal. These fallacies are most troublesome because, although false, they seem correct, especially when used by a slick-talking, charismatic person (politician) or when the fallacies support a preconceived notion or fundamental belief.

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ORANGE REBELOON
Your compete MICRO*scope for today

You are the type of person who can scrounge together a complete fashion ensemble for the price of a cheeseburger that will make heads turn... turn away in disgust. Family and friends hesitate to broach any controversial topic when you're around for fear of a verbal tongue-lashing. Today, you are likely to spend a great deal of time watching infomercials trying to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for mail order catalogs with hidden messages. You should consider shopping at stores or businesses beginning with the letter R, but do not buy any products with a serial number or product code containing the number 320008. Your preferred shopping venue is flea markets. Your special symbol is the backslash (\).


Is this You?

As an Orange Rebeloon, you are very much the rebel and the contrarian. It is your nature to go against the grain. When everyone else is buying, you sell. When everyone else is selling, you buy. You go against the trends. You disdain fashion. If it's hot, you're not. You would march to your own drummer and dance to your own tune, if doing so wasn't so trite and conventional.


This isn't me! What am I?
AVERAGE REVENUE, PERFECT COMPETITION

The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a perfectly competitive firm average revenue is also equal to marginal revenue. Average revenue for a perfectly competitive firm is often depicted by a horizontal average revenue curve.

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A Brief Introduction To Get You Started

Through 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.
Tell me more...

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APLS

General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"Experience keeps a dear school, but fools will learn in no other. "

-- Benjamin Franklin

SUR
Seemingly Unrelated Regressions
A PEDestrian's Guide
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