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January 19, 2018 

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HETEROGENEOUS: A market characterized by buyers with different needs and wants. A company utilizes a concentrated targeting strategy for this group. This market requires the company to divided the market into groups by a process called market segmentation. The company then develops a different marketing mix to satisfy each of these groups or segments.

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REAL: The value after adjusting for inflation. Pointy-headed economist are frequently interested in comparing stuff (production, income, or whatever) in one year with similar stuff in another year. However, in that inflation can distort such a comparison, it's best made using a fixed set of prices that eliminate inflationary changes. In practice, this is accomplished by using the prices in an arbitrary "base year." Once the price differences have been eliminated, the numbers are said to be measured in real dollars.

     See also | inflation | nominal | production | income | real gross domestic product | real interest rate | real production | price level |


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REAL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: January 19, 2018].


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STAR TREK SCARCITY

A science-fiction phenomenon that emerged in the second half of the 20th century, which not only entertained millions of fans worldwide for decades, but also can be used to illustrate important economic concepts such as scarcity.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time watching infomercials trying to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for cardboard boxes.
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This isn't me! What am I?

General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
"You are never given a dream without also being given the power to make it true."

-- Richard Bach, Author

LRTC
Long Run Total Cost
A PEDestrian's Guide
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