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INDIRECT: The mathematical notion that two variables change in the opposite directions, that is, an increase in X goes with a decrease in Y, or a decrease in X goes with an increase in Y. The alternative to an indirect relation is a direct relation, in which an increase in one variable goes with an increase in the other. Indirect relations are graphically illustrated by negatively-sloped curves, a common example being the demand curve.
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RULE OF CONSUMER EQUILIBRIUM A condition of consumer equilibrium and utility maximization stating that the marginal utility-price ratios for all goods are equal. This rule is a handy way of checking for consumer equilibrium and utility maximization. If the rule is not satisfied, then consumer equilibrium and utility maximization are not achieved.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for infected paper cuts.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Are you bored with life? Then throw yourself into some work you believe in with all your heart. Live for it, die for it, and you will find happiness that you had thought could never be yours. " -- Dale Carnegie, writer
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LAD
Least Absolute Deviations
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