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POVERTY: A condition in which a person lacks many of the basic necessities of life and the income needed to buy them. If these seems like a fuzzy concept, it is. Poverty is often a subjective notion, because the notion of basic necessities is also subjective. While everyone needs food for life, will a handful of wild grain do the trick or do you need an evening of fine dining? While there are no once-and-for-all, clear-cut answers, our good friends with the government have developed a so-called poverty line used as an official measure of who's in poverty and who's not. Most importantly, this poverty line is used to determine who's eligible to receive welfare and other forms of public assistance.
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SCIENTIFIC METHOD A structured way of investigating and explaining the operation of the world by testing and verifying hypothesized relations. The scientific method is a process of discovery, a method of explaining the way the world operates. Positive economics is the application of the scientific method to economic analysis.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a pleather CD case or a how-to book on fine dining. Be on the lookout for poorly written technical manuals.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"In the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. " -- Harold S. Green, MCI founder
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EBIT
Earnings Before Interest and Taxes
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