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SBA: The abbreviation for Small Business Administration, which is an independent federal agency that was started in 1953 to help small business. It provides a variety of assistance, including financial, technical, and managerial help. It helps other agencies in the federal government direct contracts and spending in the direction of proprietorships and small corporations. It also provides low interest loans to small businesses that suffer from natural disasters.

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Lesson 6: Supply | Unit 5: Scarcity Page: 18 of 19

Topic: Limited Resources <=PAGE BACK | PAGE NEXT=>

Supply is directly connected to the scarcity problem, especially limited resources.
  • Scarcity exists because society has limited resources, but unlimited wants and needs.
  • Markets were developed as a means of addressing the problem of scarcity:
    • The supply side of the market comes from the 'limited resources' side of the scarcity problem.
    • The demand side of the market comes from the 'unlimited wants and needs' side of the scarcity problem.

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GEOGRAPHIC MOBILITY

The mobility, or movement, of factors of production from a productive activity in one location to a productive activity in another location. In particular, geographic mobility is the ease with which resources can change locations. This is one of two types of mobility. The other is occupational mobility.

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APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for attractive cable television service repair people.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead."

-- Charles M. Schwab

PVCF
Present Value Cash Flow
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