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HOMOGENEOUS PRODUCT: Goods that are either physically identical or at least viewed as identical by buyers. In particular, the producer of a product can not be identified from the product itself. This is a key assumption underlying the perfect competition market structure, and like other assumptions is only approximated in the real world. Agricultural products, metals, and energy goods come as close as any in the real world.

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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for the last item on a shelf.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
"Do what you feel in your heart to be right for you'll be criticized anyway. You'll be damned if you do and damned if you don't. "

-- Eleanor Roosevelt, first lady

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Regional Trading Arrangement
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