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April 17, 2015 

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FEDERAL SURPLUS: The difference between federal government spending and taxes when taxes are greater than spending.

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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 |


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EXTERNALITIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2015. [Accessed: April 17, 2015].


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FACTOR DEMAND

The willingness and ability of productive activities (usually, business firms) to hire or employ factors of production. Factor demand relates factor price and factor quantity, specifically, it is the range of factor quantities that are demanded at a range of factor prices. This is one half of the factor market. The other half is factor supply. The factors of production subject to factor demand include any and all of the four scarce resources--labor, capital, land, and entrepreneurship. However, because labor involves human beings directly, it is the factor that tends to receive the most scrutiny and analysis.

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APLS

State of the ECONOMY

Prime Rate
April 14, 2015
3.25%
WSJ Prime

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PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?

A half gallon milk jug holds about $50 in pennies.
"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing."

-- William A. Ward

TGE
Tokyo Grain Exchange (Japan)
A PEDestrian's Guide
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