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March 1, 2024 

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SBA: The abbreviation for Small Business Administration, which is an independent federal agency that was started in 1953 to help small business. It provides a variety of assistance, including financial, technical, and managerial help. It helps other agencies in the federal government direct contracts and spending in the direction of proprietorships and small corporations. It also provides low interest loans to small businesses that suffer from natural disasters.

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MONETARISM: A school of economic thought pioneered by Milton Friedman based on the central role of money in the macroeconomy and as a economic policy tool.

     See also | money | quantity theory of money | equation of exchange |


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MARGINAL UTILITY AND DEMAND

An explanation of the law of demand and the negatively-sloped demand curve based on utility analysis and the law of diminishing marginal utility. The law of diminishing marginal utility states that marginal utility declines as consumption increases. Because demand price depends on the marginal utility obtained from a good, price also declines as consumption increases, meaning price and quantity demanded are inversely related, which is the law of demand.

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Today, you are likely to spend a great deal of time at an auction wanting to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for celebrities who speak directly to you through your television.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"The human race has only one really effective weapon and that is laughter."

-- Mark Twain

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Total Utility
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