|
|
FIFTH RULE OF IMPERFECTION: The fifth of seven basic rules of the economy. It is the observation that the real world is not perfect. This means markets often fail to achieve efficiency because of several failings. This also means that government seldom enacts the policies needed to correct market failings. We are usually faced with the lesser of evils.
Visit the GLOSS*arama
|
|
|
|
|
ELASTICITY The relative response of one variable to changes in another variable. Elasticity is commonly used in the study of market exchanges to identify the relative response of quantity (demanded and supplied) to changes in price. The phrase "relative response" is best interpreted as the percentage change, such as, the percentage change in quantity measured against the percentage change in price. The most common notions of elasticity are the price elasticity of demand and the price elasticity of supply. Other notable economic elasticities are the income elasticity of demand and the cross elasticity of demand.
Complete Entry | Visit the WEB*pedia |
|
|
GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for jovial bank tellers.
Your Complete Scope
This isn't me! What am I?
|
|
|
The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
|
|
|
"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
|
|
USM
Unlisted Securities Market
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
