|
WIDGET: A fictitious good commonly used by economic instructors to demonstrate economic principles or undertake hypothetical analyses. For example, the analysis of short-run production for a firm might be demonstrated through the production of widgets. Alternatively, the law of demand might be illustrated with a table or curve comparing the price of widgets with the quantity demanded of widgets. If such a good exists, and there is no clear evidence that widgets have every existed, it is a small mechanical device, constructed of interlocking cogs, several knobs, and at least one handle. Widgets are most often used when thingamajigs and dohickies are unavailable.
Visit the GLOSS*arama
|
|

|


|
|
PURPLE SMARPHIN [What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for pencil sharpeners with an attitude. Your Complete Scope
This isn't me! What am I?
|
|
There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
|
|
"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
|
|
IRS Internal Revenue Service
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|