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January 23, 2018 

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THIRD-WORLD COUNTRY: A country with a relatively low standard of living and which lacks the economic development of more advanced industrialized nations like the United States. Most third-world countries are in Africa, Asia, and South America and often rise to newsworthy prominence when they have a famine, are overthrown by a military dictator, or are invaded by a more developed country. They tend to have high rates of population growth and limited success in doing what's necessary to achieve economic growth.

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FINANCIAL ASSET: A legal claim to or ownership of a physical asset. Common financial assets are stocks, bonds, money, and government securities. These are also termed paper assets.

     See also | asset | legal claim | corporate stock | bond | government security | financial markets |


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COEFFICIENT OF ELASTICITY

A numerical measure of the relative response of one variable to changes in another variable. The coefficient of elasticity is used to quantify the concept of elasticity, including price elasticity of demand, price elasticity of supply, income elasticity of demand, and cross elasticity of demand. The coefficient can be calculated using the simple endpoint or midpoint formulas or with more sophisticated calculus and logarithmic techniques.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a flea market wanting to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for rusty deck screws.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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Irrelevance of Independent Alternatives
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