|
|
HOARDING: The act of accumulating assets, especially goods or money, over and above that needed for immediate use based on the fear or expectation of future shortages and higher prices. For example, concerns about a worldwide shortage of sugar and chocolate might prompt a consumer to purchase several hundred boxes of candy, which are stored in a wine cellar. Alternatively, someone fearing a global collapse of the financial system might be inclined to pack pillow cases with bundles of cash or stockpile gold bullion in the closet. Such hoarding, if widely practiced, can actually contribute to the anticipated shortage and higher prices.
Visit the GLOSS*arama
|
|
|
|
|
MARKET EFFICIENCY The notion that a competitive market automatically achieves an efficient allocation of resources by equating demand price with supply price and quantity demanded with quantity supplied. Market efficiency relies on the self-correction process that eliminates shortages or surpluses. It also presumes that the market is competitive and is not subject to market failures.
Complete Entry | Visit the WEB*pedia |
|
|
|
More money is spent on gardening than on any other hobby.
|
|
|
"Gravitation can not be held responsible for people falling in love." -- Albert Einstein
|
|
JIE
Journal of Industrial Economics
|
|
|
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
|
|
