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HIERARCHY OF NEEDS: Developed by Abraham Maslow, the notion that people are motivated to satisfy basic physiological needs (food, shelter, etc.) before moving on to satisfying higher psychological needs (security, companionship, etc.). These alternative needs are layered in a hierarchial pattern with physiological needs on the bottom, safety needs on the second layer, belonging needs on the third layer, esteem needs on the fourth layer, and self-actualization needs at the top. This hierarchy of needs has been used to help explain the progress of human societies from agrarian to manufacturing to service to information.
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GROSS DOMESTIC INCOME The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, as calculated using the income approach to measuring gross domestic product. Gross domestic income (GDI) is virtually identical to gross domestic product (GDP), with one minor difference, the statistical discrepancy. As a matter of fact, the statistical discrepancy is calculated as the difference between GDP and GDI.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at an auction seeking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for letters from the Internal Revenue Service.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"No man, for any considerable time, can wear one face to himself and another to the multitude without finally getting bewildered as to which may be true." -- Nathanial Hawthorne, Author
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APP
Average Physical Product
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