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NATURAL RESOURCES: The naturally occurring resources that are naturally a part of our natural planet which are directed toward production--including land, water, wildlife, vegetation, air, climate, sunshine, mineral deposits, and soil nutrients. Natural resources provide the "stuff" that's used to produce all of the tangible products in the economy, including both consumer goods used for immediate satisfaction of wants and needs and capital used for further production.

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INCOME RECEIVED BUT NOT EARNED

The three types of income received but not earned (IRBNE) are Social Security payments, unemployment compensation payments, and welfare payments. These are three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.

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GRAY SKITTERY
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Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?

Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"In a restless, creative business with an emphasis on experiment and development, ideas are the lifeblood."

-- Richard Branson, Virgin Group founder

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