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GATT: The abbreviation for the General Agreement on Tariffs and Trade. A treaty, signed in 1947 by 23 countries including the United States, that was designed to reduce trade barriers. It now carries the signatures of about 100 countries and over the years has been pretty darn effective in reducing tariffs, eliminating some import quotas, and promoting commerce.
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AUCTIONS: Formal markets where buyers and sellers come together to negotiate a price. Auctions are commonly held for agricultural commodities, financial instruments, and works of art. The four most common types of auctions are English, Dutch, sealed-bid, and Walrasian tatonnement. See also | information | asymmetric information | adverse selection | signalling | moral hazard | advertising | market | opportunity cost | labor market |
Recommended Citation:AUCTIONS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].
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DURABLE GOODS, CONSUMPTION Personal consumption expenditures on tangible goods that tend to last for more than a year. Common examples are cars, furniture, and appliances. This is one of three categories of personal consumption expenditures in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are nondurable goods and services. Durable goods are about 12 percent of personal consumption expenditures and 8 percent of gross domestic product.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for the happiest person in the room.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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MSE
Minimum Efficient Scale
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