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TERM LIMITS: A policy designed in part to address the public sector efficiency created by re-election seeking political leaders by limiting the amount of time politicians can hold elected office ONLY. Once the limit has been reached, the politician can serve no more... in that particular office. The goal of term limits is to prevent political leaders from spending excessive effort seeking re-election and pursuing policies that appease only the special interest groups that might ensure re-election. The U.S. Presidency has had term limits in place for decades and a number of state and local offices also operate with term limits. Unfortunately term limit restrict voter choices. Perhaps the current office holder actually is the best person for the job and the one preferred by the voters. This matters not. Someone else will be elected. In addition, placing term limits on one office doesn't prevent the politician from seeking election to another office, and in so doing, curry the favor of the same special interest groups.
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PRODUCT MARKET: A market used to exchange a final good or service. Product markets exchange consumer goods purchased by the household sector, capital investment goods purchased by the business sector, and goods purchased by government and foreign sectors. A product market, however, does NOT include the exchange of raw materials, scarce resources, factors of production, or any type of intermediate goods. The total value of goods exchanged in product markets each year is measured by gross domestic product. The demand side of product markets includes consumption expenditures, investment expenditures, government purchases, and net exports. The supply side of product markets is production of the business sector. See also | goods | services | circular flow | aggregate market | household sector | business sector | government sector | foreign sector | consumption expenditures | investment expenditures | government purchases | net exports | final good | intermediate good | resources | factors of production | resource markets | factor markets | financial markets | gross domestic product |
Recommended Citation:PRODUCT MARKET, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: November 15, 2025].
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AD VALOREM TAX A tax specified as a percentage of the price or value of a good, service, asset, or other activity. Ad valorem taxes tend to be broad based, imposed on activities such as income and retail sales. In fact, the two most important ad valorem taxes are income taxes and sales taxes. People pay a percentage of their incomes in income taxes or a percentage or the value of their purchases in sales taxes, regardless of the amount of time spent working or the quantities of goods purchases. An alternative is a per unit tax, with is a tax specified as a percentage of the physical quantity of a good.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for deranged pelicans.
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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.
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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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CLI
Cost of Living Index
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