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December 5, 2024 

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WORLD VIEW: An aspect of a scientific theory that includes fundamental, and unverifiable axioms, beliefs, and values about how the world works. On example of an unverifiable world view axiom is belief in the existence of supreme, omnipotent, omniscience being. Political philosophies, which are essential to economic theories, are intertwined with alternative world views.

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PATENT: The guaranteed ownership and control of an invention, innovation, or production technique by government for a period of time (currently 17 years). A patent gives the owner the exclusive rights to sell, market, license, or otherwise generate revenue from an invention, innovation, or production technique. Patents are designed to encourage inventions and other developments that promote technological advances. However, they are also an entry barrier and lead to market control.

     See also | entry barrier | market control | invention | innovation | oligopoly | monopoly | technology |


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PATENT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: December 5, 2024].


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PERSONAL TAXES

The common term for the portion of personal income used to pay personal tax and nontax payments. Personal tax and nontax payments is the official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.

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APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?

Lombard Street is London's equivalent of New York's Wall Street.
"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

QLR
Quasi-Likelihood Ratio
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