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NATIONALIZATION: The process of a national government taking over the ownership of a private business or industry, usually in conjunction with a major revolution that establishes a communistic or socialist command economy. Nationalization was a common practice, sort of a fad, during the 1950s,1960s, and 1970s. Even non-revolutionary industrialized countries in Europe jumped onto the nationalization bandwagon. The United States also took at stab at nationalizing passenger train service when Amtrak was established in 1970.
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CONSUMER DEMAND THEORY The branch of economics devoted to the study of consumer behavior, especially as it applies to decisions related to purchasing goods and services through markets. Consumer demand theory is largely centered on the study and analysis of the utility generated from the satisfaction of wants and needs. The key principle of consumer demand theory is the law of diminishing marginal utility, which offers an explanation for the law of demand and the negative slope of the demand curve.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for letters from the Internal Revenue Service.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Good plans shape good decisions. That's why good planning helps to make elusive dreams come true." -- Lester Bittle, Author
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OTC
Over the Counter
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