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February 22, 2017 

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Beyonce.
That guy in the back of class.

DOUBLE COINCIDENCE OF WANTS: The requirements of a barter exchange that each trader has want the other wants and wants what the other has. Because everyone doesn't necessarily want everything, the lack of double coincidence of wants is a major obstacle in barter exchanges, especially for complex, modern economies. While double coincidence of wants is also essential for exchanges involving money, it's such an inherent trait of money we don't think twice about it. By its very nature as a generally accepted medium of exchange, everyone WANTS money.

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AVERAGE PRODUCT AND MARGINAL PRODUCT

A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.

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APLS

State of the ECONOMY

Real average weekly earnings
November 2016
$367.50 Bureau of Labor Statistics
Constant 1982-84 dollars

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BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for the last item on a shelf.
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This isn't me! What am I?

More money is spent on gardening than on any other hobby.
"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune."

-- William James, Psychologist

M&O
Management and Organization
A PEDestrian's Guide
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