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HUMAN DEVELOPMENT INDEX: A summary composite index that measures a country's average achievements in three basic aspects of human development: longevity, knowledge, and a decent standard of living. Longevity is measured by life expectancy at birth; knowledge is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrollment ratio; and standard of living is measured by GDP per capita. The Human Development Index (HDI), reported in the Human Development Report of the United Nations, is an indication of where a country is development wise. The index can take value between 0 and 1. Countries with an index over 0.800 are part of the High Human Development group. Between 0.500 and 0.800, countries are part of the Medium Human Development group and below 0.500 they are part of the Low Human Development group.
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AUCTION A formal market exchange in which prospective buyers make bids to purchase a commodity. An auction is an effective way of exchanging commodities by bringing together buyers and sellers. Auctions are commonly used to exchange financial instruments, agricultural commodities, personal assets, and works of art. Three notable types of auctions are English, Dutch, and sealed-bid.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"Adversity is another way to measure the greatness of individuals. I never had a crisis that didn't make me stronger. " -- Lou Holtz, Football Coach
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WAPM
Weak Axiom of Profit Maximization
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