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ZONING: Legal restrictions on where different activities can locate within a city. Most cities regulate the location of industrial, commercial, and residential activities. The underlying motivation behind zoning is to keep less desirable, but perhaps more profitable, activities from encroaching upon residential areas.

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MULTILATERAL: An action, often used in terms of an international trade agreement, that's extended to more than two parties. As such, a multilateral trade agreement is between several countries. For example, the United States might enter into a multilateral agreement with every country in North and South America that reduces trade barriers on the exports and imports of food products. The General Agreement on Tariffs and Trade is one of the more well known examples of a multilateral trade agreement.

     See also | foreign trade | trade barriers | export | import | General Agreement on Tariffs and Trade | bilateral | most-favored nation | unilateral |


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PRODUCTION POSSIBILITIES CURVE

A curve that illustrates the production possibilities of an economy--the alternative combinations of two goods that an economy can produce with given resources and technology. A production possibilities curve (PPC) represents the boundary or frontier of the economy's production capabilities, hence it is also frequently termed a production possibilities frontier (PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a really, really exciting, action-filled video game or a coffee cup commemorating the moon landing. Be on the lookout for rusty deck screws.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness."

-- Martin Luther King, Jr., clergyman

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Intertemporal Capital Asset Pricing Model
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