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March 22, 2023 

AmosWEB means Economics with a Touch of Whimsy!

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ECONOMIC GROWTH, SOURCES: Our economy achieves economic growth with increases in the quantity or quality of resources. The quantity part is relatively simple. If we get more resources, then we have the ability to produce more output. We can also improve resource quality, making existing resources more productive, primarily through education and technology.

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OPTION: A contract that gives the buyer an "option" to complete a transaction within a given time period. Options are used frequently in financial markets.

     See also | financial markets | futures | hedging | speculation |


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OPTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 22, 2023].


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ECONOMIC THINKING

A way of looking at and analyzing the way the world works by comparing the cost of an action with the benefit generated. The study of economics is the process of economic thinking about issues related to the scarcity problem.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either a square lamp shade with frills along the bottom or an electric coffee pot with automatic shutoff. Be on the lookout for the last item on a shelf.
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A half gallon milk jug holds about $50 in pennies.
"Most of the things worth doing in the world had been declared impossible before they were done."

-- Louis D. Brandeis, Supreme Court Justice

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