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December 11, 2018 

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RESOURCES: The labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Land provides the basic raw materials--vegetation, animals, minerals, fossil fuels--that are inputs into the production of goods (natural resources). Labor is the resource that does the "hands on" work of transforming raw materials into goods. Capital is the comprehensive term for the vast array of tools, equipment, buildings, and vehicles used in production. Entrepreneurship is the resource that undertakes the risk of bringing the other resources together and initiating the production process.

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GRAPHICAL ANALYSIS: The process of investigating economic phenomena in a systematic manner using graphs and diagrams. Graphical analysis is a common type of economic analysis.

     See also | graph | economic analysis | line graph | positive relation | negative relation | scientific method | comparative statics | ceteris paribus | cause and effect | determinants | demand shock | supply shock |


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GRAPHICAL ANALYSIS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: December 11, 2018].


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COMMUNISM

In theory, an economy, or economic system, based on--(1) a classless society, where everyone does their best to contribute to the common good, (2) common, rather than individual, ownership of all resources, (3) the complete disappearance of government, and (4) income allocated based entirely on need rather than on resource ownership or contribution to production. In practice, communism is a type of command economy based on--(1) government ownership and control of most resources, goods, and other assets and (2) excruciatingly detailed central planning by government.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for crowded shopping malls.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"There comes a time when the mind takes a higher plane of knowledge but can never prove how it got there. "

-- Albert Einstein, physicist

EFTA
European Free Trade Association
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