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NONDURABLE GOOD: A good bought by consumers that tends to last for less than a year. Common examples are food and clothing. The notable thing about nondurable goods is that consumers tend to continue buying them regardless of the ups and downs of the business cycle.
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SECOND RULE OF SUBJECTIVITY The second of seven basic rules of the economy, stating that market prices are determined by subjective values and the preferences of buyers and resource owners. Contrary to popular opinion, prices and costs are not immutably facts of nature, but are ultimately based on what people are willing to pay or accept.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for letters from the Internal Revenue Service.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Consult not your fears, but your hopes and your dreams. Think not about your frustrations, but about your unfulfilled potential. Concern yourself not with what you tried and failed in, but with what it is still possible for you to do. " -- Pope John XXIII
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AACT
American Assocation of Commodity Traders
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