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February 27, 2024 

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ACCUMULATION: The process of acquiring an item and adding that item to others previously acquired. In an economic context this most often refers to the accumulation of capital, as in the phrase "capital accumulation." However, it is also used in the context of consumer durable goods, financial assets, money, wealth, and a host of other "stock" variables. When applied to capital, the process of accumulation occurs through investment.

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There are 28 entries in the GLOSS*arama starting with the letter W.

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SCARCE GOOD

A tangible item produced with society's limited resources for the purpose of satisfying wants and needs. As a general notion, the phrase scarce good can also commonly include intangible services produced with society's limited resources for the purpose of satisfying wants and needs. A synonymous term for scarce good is economic good.

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Charging Up Your CREDIT CARDS (aka Plastic Money)

Here's the scene: You've made your monthly stop (for the second time this week) at the Mega-Mart Discount Warehouse Super Center for a few essentials -- cashews, soap, licorice, garden hose, peanut clusters, color television, and a large inner tube for whitewater rafting. Do you pay with a check or whip out your Interstate OmniBank Platinum Diamond Express credit card? Credit card? Good choice. You don't actually have to PAY for the stuff that you're buying -- at least not right away. Your bank account is safe.
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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time at a flea market wanting to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?

Lombard Street is London's equivalent of New York's Wall Street.
"Believe and act as if it were impossible to fail."

-- Charles F. Kettering

ASEAN
Association of South East Asian Nations
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