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ALLOCATIVE EFFICIENCY: Obtaining the most consumer satisfaction from available resources. Allocative efficiency means that our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources -- that is, of addressing the problem of scarcity.
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WHITE GULLIBON
Your compete MICRO*scope for today
You are the type of person who does not realize when you are being taken for a ride. Family and friends are prone to talk you into bad investments. Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for high interest rates. You should consider shopping at stores or businesses beginning with the letter W, but do not buy any products with a serial number or product code containing the number 516974. Your preferred shopping venue is television shopping channels. Your special symbol is the minus sign (-).
Is this You?
As a White Gullibon, you are extremely trusting but somewhat impressionable, seeing only the good in other people. You tend to be a bit naive in the wily ways of the marketplace and thus are often exploited by others, especially the Reg Aggressorine. Like it or not, you are the poster child for the phrase "let the buyer beware." You are empathetic to the plight of others, often to your own detriment.
This isn't me! What am I?
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ASSUMPTIONS, PRODUCTION POSSIBILITIES The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.
Complete Entry | Visit the WEB*pedia |
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The Economics Of Dueling POLITICAL VIEWSThere seems to be a disturbance on the steps of the Shady Valley City Hall. Why it's the twins, Donna and Rhonda, engaged in yet another of their long-running, and overly heated, political arguments. Donna, you see, is a devoted Democrat and Rhonda is a rigid Republican. They haven't found much to agree on since, well, come to think of it they've never agreed on anything. In their current debate, Donna is making a strident case for stricter regulation of the banking industry and Rhonda is championing the virtues of free enterprise. I had better hitch up my jogging pants and intervene before their argument comes to blows -- again. While I do, let's ponder the source of differing political views.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. " -- Martin Luther King Jr., civil rights leader
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CBOT
Chicago Board of Trade
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