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LOCAL BONDS: Also called municipal bonds, these are medium or long-term financial instruments issued by municipalities to borrow the funds used to build schools, highways, parks and other public projects. An attractive feature of these financial instruments is that are exempt from federal income tax. Commercial banks, corporations, and others with large sums of funds to lend usually purchase these bonds.
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Lesson 4: Production Possibilities | Unit 4: Analysis
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Page: 14 of 24
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We can use production possibilities to illustrate the full employment condition.- Full employment is the condition that exists when all available resources are engaged in the production of goods and services.
- Full employment can be interpreted as any bundle that places the economy ON the production possibilities curve, including D and J.
- L does not fully employ all resources.
- M is not attainable.
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ALLOCATIVE EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or economic efficiency.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for strangers with large satchels of used undergarments.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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SET
Securities Exchange of Thailand
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