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TRADING BLOC: A group of countries that are economically intertwined, share some common cultural background, are located close together, and coordinate their foreign trade policies. There are three trading blocs of note, North America, Europe, and Asia, although other portions of the globe aspire to this status. The North American bloc centers around the good old U. S. of A. with Canada and Mexico playing increasingly important roles. The European bloc contains most of the Western Europe with leading roles played by Germany, Britain, and France. Japan is the center of the Asian bloc that includes Korea, Taiwan, Hong Kong, Malaysia, and several others.
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CHANGE IN DEMAND A shift of the demand curve caused by a change in one of the demand determinants. A change in demand is caused by any factor affecting demand EXCEPT price. A related, but distinct, concept is a change in quantity demanded.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a flea market trying to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for telephone calls from long-lost relatives.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"A stumble may prevent a fall. " -- Margaret Thatcher, British prime minister
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VAT
Value Added Tax
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