|
|
SEVEN RULES: Seven key economic principles underlying the study of economics and the operation of the economy. These seven rules are: first -- scarcity, second -- subjectivity, third -- inequality, fourth -- competition, fifth -- imperfection, sixth -- ignorance, and seventh -- complexity.
Visit the GLOSS*arama
|
|
|
|
|
DIAMOND-WATER PARADOX The apparently conflicting and perplexing observation that water, which is more useful than diamonds, has a lower price than diamonds. This paradox was proposed by economists in the 1800s as a means understanding the role utility plays in the demand price of a good by differentiating between total utility and marginal utility.
Complete Entry | Visit the WEB*pedia |
|
|
|
Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
|
|
|
"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
|
|
CLI
Cost of Living Index
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
