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DEMAND INCREASE AND SUPPLY DECREASE: A simultaneous increase in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a rightward shift of the demand curve, and a decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. When combined, both shifts result in an indeterminant change in equilibrium quantity and an increase in equilibrium price.
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STORE OF VALUE The money function in which money is used as a means of postponing the satisfaction obtained from using or consuming goods until a later time. Value is obtained from a good when it is consumed, when it is used to satisfy wants and needs. The value from consuming goods can be stored in several different ways, one of which is money. This is one of four basic functions of money. The other three are medium of exchange, unit of account, and standard of deferred payment.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for small children selling products door-to-door.
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More money is spent on gardening than on any other hobby.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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AV
Actual Value
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