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August 31, 2015 

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Best TV Drama of the 1970s?

Charlie's Angels.
The Six Million Dollar Man.
The Waltons.
Wonder Woman.
Starsky & Hutch.
Little House on the Prairie.

CAVEAT VENDITOR: This is a latin term meaning "let the seller beware." It was developed as a counter to the buyer's warning, caveat emptor, and suggests that sellers too can be "taken to the cleaners" in a market transaction. While it's less important than caveat emptor to under appreciated consumers, it does surface from time to time.

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EXTERNALITIES: Costs or benefits that are not included in the market price of a good because they are not included in the supply price or the demand price. Pollution is an example of an externality cost if producers aren't the ones who suffer from pollution damages. Education is an example of an externality benefit when members of society other than students benefit from a more educated population. Externality is one type of market failure that causes inefficiency.

     See also | opportunity cost | market | supply price | demand price | market failure | efficiency | pollution | materials balance | good types | Pigouvian tax | Coase theorem |


Recommended Citation:

EXTERNALITIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2015. [Accessed: August 31, 2015].


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CLOSED ECONOMY

An economy that does not engage in international trade or other forms of interaction with other countries. That is, a closed economy neither exports goods and services to, nor imports goods and services from, other economies that make up its foreign sector. It is "closed" to the flow of goods and services into or out of the country. The alternative to a closed economy is an open economy, one that does engage in international trade.

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APLS

State of the ECONOMY

Productivity
2nd Quarter 2015
Up 1.3% from 1st Quarter 2015
Source: BLS

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ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either a rechargeable battery for your cell phone or a T-shirt commemorating the 2000 Olympics. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?

The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"If you are neutral in situations of injustice, you have chosen the side of the oppressor. If an elephant has its foot on the tail of a mouse and you say that you are neutral, the mouse will not appreciate your neutrality."

-- Desmond Tutu, activist

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Autoregressive Conditional Heteroskedasticity
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