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February 17, 2019 

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RISK NEUTRAL: A person who values a certain income the same as an equal amount of income that involves risk or uncertainty. Let's say that you're given two options--(A) a guaranteed $1,000 or (b) a 50-50 chance of getting either $500 or $1,500. If you don't really care which option you chose, because both options have the same "expected" values, then you're risk neutral.

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SUPPLY DETERMINANTS: The five basic ceteris paribus factors that affect supply, but which are assumed constant when a supply curve is constructed. The five supply determinants are resource prices, technology, other prices, sellers' expectations, number of sellers.

     See also | supply | supply curve | supply price | equilibrium quantity | equilibrium price | equilibrium | resource prices | other prices | substitute-in-production | complement-in-production | sellers' expectations | number of sellers | supply increase | supply decrease | demand determinants |


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SUPPLY DETERMINANTS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: February 17, 2019].


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RECESSION

A phase of the business cycle characterized by a general period of declining economic activity. A recession is one of two basic business cycle phases. The other is expansion. The transition from recession to expansion is termed a trough and the transition from expansion to recession is termed a peak. The technical term for recession, which is generally used by economists and policy makers, is contraction.

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WHITE GULLIBON
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Today, you are likely to spend a great deal of time at an auction wanting to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for cardboard boxes.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
"Stand up to your obstacles and do something about them. You will find that they haven't half the strength you think they have."

-- Norman Vincent Peale

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Organization of Petroleum Exporting Countries
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