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HETEROGENEOUS: A market characterized by buyers with different needs and wants. A company utilizes a concentrated targeting strategy for this group. This market requires the company to divided the market into groups by a process called market segmentation. The company then develops a different marketing mix to satisfy each of these groups or segments.

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MARKET-ORIENTED ECONOMY: A mixed economy that relies heavily on markets to answer the three basic questions of allocation, but with a modest amount of government involvement. While it is commonly termed capitalism, market-oriented economy is much more descriptive of how the economy is structure.

     See also | economy | mixed economy | economic system | capitalism | three questions of allocation | fifth rule of imperfection | efficiency | competitive market | market failure | economic policies | pure market economy | command economy | free enterprise |


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MARKET-ORIENTED ECONOMY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: March 7, 2021].


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CETERIS PARIBUS

A Latin term meaning that other factors remain unchanged. Ceteris paribus is commonly used as an assumption when conducting a wide variety of economic analyses. By holding everything else constant, the ceteris paribus assumption makes it possible to identify the cause-and-effect relation between two factors. Relaxing the ceteris paribus assumption is the primary analytical technique used in the comparative statics study of economics.

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for mail order catalogs with hidden messages.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
"Ships are safe in harbor. But that is not what ships are for."

-- Anonymous

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Present Worth of Annual Costs
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