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INEFFICIENCY: When the economy is NOT obtaining the highest level of consumer satisfaction from the available resources. Inefficiency occurs if it is possible to reallocate resources in a way that would generate greater satisfaction.
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GOVERNMENT SECTOR The aggregate macroeconomic sector that includes all levels of government, including federal, state, and local. The primary function of the government sector, also termed the public sector, is to impose resource allocation decisions on the rest of the economy that might not be made otherwise. This is one of the four macroeconomic sectors. The other three are household sector, business sector, and foreign sector.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"He who truly knows has no occasion to shout. " -- Leonardo da Vinci, painter, sculptor, architect, engineer
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AFC
Average Fixed Cost
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