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August 14, 2022 

AmosWEB means Economics with a Touch of Whimsy!

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COASE THEOREM: A policy proposition, developed by Ronald Coase, that pollution and other externalities can be efficiently controlled through voluntary negotiations among the affected parties (polluters and those harmed by pollution). A key to the Coase theorem is that many pollution problems involve common-property goods that have no clear-cut ownership or property rights. With clear-cut property rights, "owners" would have the incentive to achieve an efficient level of pollution. This theorem states that it doesn't matter who receives the property rights, so long as someone does. Pollution can be reduced through voluntary negotiation by assigning private property rights to common-property resources. If common-property resources are privately owned, a market in property rights can be established. Owners then have the incentive to protect the quality of their resources.

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WHITE GULLIBON

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.

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BLACK DISMALAPOD

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.

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RED AGGRESSERINE

As a Red Aggresserine, you are somewhat audacious and quite assertive, extremely competitive and a bit vindictive. You take no prisoners when it comes to market negotiations. For you, the thrill is in the competition. You enjoy the challenge of getting the most for the least and will do all you can to come out on top. You live for the hunt, the chase, the transaction. Your adrenaline is triggered by the thoughts of economic victory.

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BLUE PLACIDOLA

As a Blue Placidola, you are easy-going and even-tempered, calm and composed. For you, the hectic pace of a crowded shopping mall during the holiday rush is nothing, it's little more than a tranquil stroll in the park. Life is good. Life goes on. Why worry. You are a happy shopper and you seldom fret over trivial details of a market exchange, in part because you are astute enough to get moderately low prices and relatively good deals.

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YELLOW CHIPPEROON

As a Yellow Chipperoon, you are happy, happy, happy. You enjoy everything about life and about shopping. You love shopping. You love buying. You love spending. You love to compare products and prices. You love the crowds. You love chatting with the store clerks. You love every bit of the buying process. Nothing dissuades you from having a good time shopping, whether you're buying a box of facial tissues or a new house. Does it get any better than spending an afternoon at the shopping mall? No way!

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PURPLE SMARPHIN

As a Purple Smarphin, you are the brightest and most intelligent person you know. And that goes for shopping, too. You know exactly what you want. You know exactly what it costs. You know exactly when and where to buy. But, of course, shopping is only one of the many activities that attracts your intellectual attention. You shop when you need to and buy if have to, but shopping is not the end all of your life.

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GREEN LOGIGUIN

As a Green Logiguin, you seek a balance in life and your market activities. You are logical and reasonable, always seeking to weigh costs and benefits, pros and cons, ups and downs, ins and outs, goods and bads. You are the embodiment of yin and yang. You know that there are two sides to every story and every market exchange. Sometimes you buy. Sometimes you sell. You search out the best deals, with the highest quality and lowest price.

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ORANGE REBELOON

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.

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GRAY SKITTERY

As a Gray Skittery, you are ambivalent, indecisive, and uncertain. You are in a constant struggle between the forces of demand and supply, production and consumption, good and evil... and you're losing the battle. You have trouble making decisions and choosing from among the seemingly infinite number of options that you perpetually face. Your shopping experiences are inevitably confusing.

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PINK FADFLY

As a Pink Fadfly, you flutter from store to store, from product to product, looking for the latest fashions. You are the trend-setter and at the forefront of all fads. If it's new, if it's trendy, if it's on the cutting edge, you are there. Price is not important. Quality is not a prime consideration. For you it's not a matter of form over function or style over substance. The latest trend trumps all.

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BEIGE MUNDORTLE

As a Beige Mundortle, you are somewhat dull, somewhat boring, somewhat lusterless. You don't particularly care and you don't really care that you don't care. You know that you have a somewhat drab, lackluster life, and that's just fine with you. You shop when you need to, buy what you have to, and get on with your life. It's just another day, another expenditure. You don't really care to spend a lot of time shopping, but you don't really care to spend a lot of time doing much of anything. Life goes on. So what? Who cares?

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BROWN PRAGMATOX

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.

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CAPITAL

The manufactured, artificial, or synthetic goods used in the production of other goods, making capital the "produced" factor of production. This is one of four basic categories of resources, or factors of production. The other three are labor, land, and entrepreneurship. Capital makes labor more productive.

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Paying TAXES

The time has come to take a firm stand! The Shady Valley Gazette Tribune-Journal has published an inflammatory editorial calling for a "pedestrian" tax on anyone who ambles around the economy. This tax, as every pedestrian would surely agree, is misguided and short-sighted. It's also unfair and probably unconstitutional. How DARE the editors of the Shady Valley Gazette Tribune-Journal call for a "pedestrian" tax. Sure they argue that ambling pedestrians should help pay for the sidewalks, traffic signals, and other assorted public goods. But, it's certainly not in MY best interest as a pedestrian to pay this misguided, short-sighted, unfair, and probably unconstitutional tax.
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APLS

A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. "

-- Andrew Carnegie, entrepreneur

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