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PERFECTLY INELASTIC: An elasticity alternative in which changes in price do NOT cause any change in quantity. In other words, quantity is totally, completely unresponsive to price. Quantity just does not change, regardless of changes in price. Perfectly inelastic should be compared with other elasticity alternatives--perfectly elastic, relatively elastic, relatively inelastic, and unit elastic.
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SELF CORRECTION, MARKET The automatic process in which markets adjust from disequilibrium to equilibrium. With this self-correction process, the market price either increases or decreases in response to a shortage or a surplus to restore the balance between quantity demanded and quantity supplied. This process works automatically to achieve equilibrium without the need for outside intervention, such as government regulation.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for gnomes hiding in cypress trees.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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