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June 24, 2019 

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WEALTH PYRAMID: A handy technique that many get-rich-quick schemes use to transfer a little wealth from a lot of people into the overflowing pockets of a few. In works in this manner--A person or business establishes a multi-level pyramid of investors, employees, or "distributors." Each level is responsible for recruiting the next level beneath it. The trick is that each distributor at one level recruits several distributors into the next lower level in an ever-expanding fashion. Each recruit transfers a little, teeny, tiny bit of their own wealth to the next higher level. In that each higher level has fewer members, that little, teeny, tiny bit of wealth accumulates rapidly, making those at the top incredibly well-off.

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POINT ELASTICITY: The relatively responsiveness of a change in one variable (call it B) to an infinitesimally small change in another variable (call it A). The notion of point elasticity typically comes into play when discussing the elasticity at a specific point on a curve.< P>Point elasticity can be calculated in a number of different ways. Sophisticated economists, using sophisticated mathematical techniques (better known as calculus) can calculate point elasticity by taking derivatives of equations. Derivatives is fancy calculus talk for infinitesimally small changes.

     See also | elasticity | variable | arc elasticity | midpoint formula |


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POINT ELASTICITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: June 24, 2019].


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COEFFICIENT OF ELASTICITY

A numerical measure of the relative response of one variable to changes in another variable. The coefficient of elasticity is used to quantify the concept of elasticity, including price elasticity of demand, price elasticity of supply, income elasticity of demand, and cross elasticity of demand. The coefficient can be calculated using the simple endpoint or midpoint formulas or with more sophisticated calculus and logarithmic techniques.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at an auction trying to buy either several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for vindictive digital clocks with revenge on their minds.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"The moment you let avoiding failure become your motivator, you're down the path of inactivity. "

-- Roberto Goizueta, Coca-Cola CEO

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National Bureau of Economic Research
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