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March 27, 2023 

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REGULATORY POLICY: Government policy based on government's ability to pass laws and enact regulations.

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OTHER THINGS EQUAL: A common assumption used in economic analysis that often goes by the technical Latin term, ceteris paribus. This assumption is used when identifying the relation between two specific variables, such as price and quantity for the law of demand. In so doing, the causal connection between the two variables can be identified. However, economic analysis becomes more interesting and useful when this assumption is relaxed, which makes it possible to examine how these "other things" affect the relation under study.

     See also | ceteris paribus | assumption | economic analysis | principle | law | law of demand | price | quantity | cause and effect | comparative statics |


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OTHER THINGS EQUAL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 27, 2023].


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RESOURCE ALLOCATION

The process of distributing resources for the production of goods and services which are then distributed for the satisfaction of wants and needs and human consumption. This is also commonly referred to by the single word "allocation." The resource allocation process is an essential part of an economy's effort to address the problem of scarcity

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Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for deranged pelicans.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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