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WPI: The abbreviation for Wholesale Price Index, which is an index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index.
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WANTS The psychological desires which make life just a little more enjoyable, but which are not biological necessities for life. Psychological wants are often contrasted with physiological needs that make life more enjoyable, but are not essential for existence.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"Don't be distracted by criticism. Remember the only taste of success some people have is when they take a bite out of you." -- Zig Ziglar
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GARP
Generalized Axioms of Revealed Preference
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