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NATIONAL ASSOCIATION OF SECURITIES DEALERS: A stock market in which corporate stocks are exchanged by dealers across the country using a computerized system of stock price quotes. This is often referred to as the "over-the-counter" stock market, because, unlike the New York Stock Exchange, the American Stock Exchange, and others, the dealers don't conduct their business at a single location. They match up their buy and sell orders through a computer network rather than through the face-to-face contact. Transactions conducted by the NASD give rise to one of the more commonly publicized stock market price indicators, the NASDAQ (which stands for National Association of Securities Dealers Automated Quotation). The widely used NASDAQ composite index is based on the prices of 5,000 of these over-the-counter stocks.
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EFFICIENT INFORMATION SEARCH A comparison between the cost of acquiring information and the benefit generated by the information such that it is not possible to increase welfare or well being by acquiring any more of any less information. Efficient information search is achieved by equating the marginal cost of search with the benefit of search. This efficiency is comparable to the profit-maximizing decision by a producer and the utility-maximizing decision by a consumer.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for defective microphones.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out." -- President Ronald Reagan
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NEDC
National Economic Development Council
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