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QUASI-PUBLIC: A good or activity that is some, but not all characteristics of a public good or activity. The term quasi-public is often used in connection with business activities that are privately controlled, but which are authorized by government legislation. The Federal National Mortgage Association is one example. Quasi-public is also commonly used in reference to goods that have one but not both of the key characteristics of a public good--nonrival consumption or nonexcludability of nonpayers. Information are transportation examples of quasi-public goods in which nonpayers can be excluded from use (like a private good) but are nonrival in consumption (like a public good).
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"No amount of business school training or work experience can teach what is ultimately a matter of personal character. " -- Truett Cathy, Chick-fil-A Inc. founder
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LRMC
Long Run Marginal Cost
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