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POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called government or economic policies. The four common types of policies are: fiscal, monetary, regulatory, and judicial.
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SUBSTITUTE-IN-CONSUMPTION One of two (or more) goods that provide the same basic satisfaction of a want or need when consumed. A substitute-in-consumption is one of two alternatives falling within the other prices determinant of demand. The other is a complement-in-consumption. An increase in the price of one substitute good causes an increase in demand for the other. A substitute-in-consumption has a positive cross elasticity of demand.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a stretchable, flexible watch band or high-gloss photo paper that works with your printer. Be on the lookout for the last item on a shelf.
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The average length of a "business lunch" is about 36 minutes.
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"The only profit center is the customer. " -- Peter Drucker, management consultant
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AACT
American Assocation of Commodity Traders
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