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MARKET ADJUSTMENT: The economic analysis of the changes in market equilibrium caused by changes in the demand determinants and supply determinants. Given the two curves that comprise the market--the demand curve and the supply curve; each of which can increase or decrease; market adjustment comes in eight varieties. Four involve a shift of EITHER the demand curve OR the supply curve. The other four involve a shift of BOTH the demand curve AND the supply curve.
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FIFTH RULE OF IMPERFECTION The fifth of seven basic rules of the economy, stating that the real world is not perfect, especially in terms of achieving an efficient allocation of resources. This rule means that markets often fail to achieve due to market failures, and that governments seldom satisfactorily enact the policies needed to correct market failings. As such, the real world is often faced with the lesser of two evils--imperfect markets or imperfect government.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for jovial bank tellers.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"God grants victory to perseverance. " -- Simon Bolivar, South American liberator
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SFE
Sydney Futures Exchange
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