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CAVEAT EMPTOR: A handy little latin term meaning to "let the buyer beware." It's a warning to buyers that sellers will try to extract a high price for low-quality stuff, and a heed that every hardworking consumer of the third estate should take. If you find you've been "taken", note that government has established consumer protection guidelines that businesses are legally compelled to follow. As such, you can seek action through the Federal Trade Commission, Consumer Product Safety Commission, your state attorney general, and in all likelihood your local police department.
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LAW OF DIMINISHING MARGINAL UTILITY A principle stating that as the quantity of a good consumed increases, eventually each additional unit of the good provides less additional utility--that is, marginal utility decreases. Each subsequent unit of a good is valued less than the previous one. The law of diminishing marginal utility helps to explain the negative slope of the demand curve and the law of demand.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for cardboard boxes.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude. " -- Colin Powell, general
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