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March 19, 2024 

AmosWEB means Economics with a Touch of Whimsy!

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FEDERAL RESERVE BRANCH BANK: One of 25 Federal Reserve Banks that assists Federal Reserve District Banks in carrying Federal Reserve policies. Most Branch banks are located in the expansive western states. For example, 11 Branch banks are located in just 3 Districts, San Francisco, Kansas City, and Dallas.

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AmosWEB is an Internet-based resource of economics information offered by AmosWEB LLC. AmosWEB LLC was established April 1, 2000 to publish economics information and instructional resources through the World Wide Web.

At AmosWEB, we take economics seriously, but with a touch of whimsy. We recognize the importance of economics to our lives, careers, and citizenship, but we try to have a little fun with it along the way. On the one had... serious. On the other hand... whimsical. A balance much like that of demand and supply.

AmosWEB began its Internet existence under the name AmosWORLD. (You might see AmosWEB listed as AmosWORLD in some search engines. AmosWorld.com is currently maintained by a talented artist named Amos Kmiec.) We have been providing economics information through the World Wide Web since the earliest days of the World Wide Web, when memory was measured in kilobytes, disks were floppy, and PPP was the primary way to get online.

Over the years, we've provided economics information to students, instructors, and web surfers on six continents (we're still working on Antarctic). We have consistently ranked in the top 10 percent of all websites on the Internet (according to Rank.com). Our most popular resource is the AmosWEB GLOSS*arama, an extensive glossary of economics terms and concepts. We also offer the increasingly popular AmosWEB Encyclonomic WEB*pedia, and encyclopedia of economics.

We're also very proud of the AmosWEB eTutor, a subscription service used by all sorts of students seeking a little extra help with their course work and the AmosWEB Programmed Learning System (A*PLS), an integrated online learning system designed for traditional classes, hybrid courses, and online distance learning.

The principle author and content developer of AmosWEB is Orley M. Amos, PhD, a Professor of Economics at Oklahoma State University with a couple of decades of instructional experience. Assistance has been provided over the years by Antonio Avalos, PhD, an Assistant Professor of Economics at California State University, Fresno.

AmosWEB LLC is presently based in Stillwater, Oklahoma with a branch office in Wichita, Kansas.

Written correspondence concerning can be directed to AmosWEB, 1411 North Grandview Court, Stillwater, Oklahoma, 74075-6903. Email correspondence can be sent to AmosWEB WebMaster.

PERFECT COMPETITION

An ideal market structure characterized by a large number of small firms, identical products sold by all firms, freedom of entry into and exit out of the industry, and perfect knowledge of prices and technology. This is one of four basic market structures. The other three are monopoly, oligopoly, and monopolistic competition. Perfect competition is an idealized market structure that is not observed in the real world. While unrealistic, it does provide an excellent benchmark that can be used to analyze real world market structures. In particular, perfect competition efficiently allocates resources.

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Creating WEALTH

Wealth -- what is it and how do you get it? Perhaps one of those home business franchises that sell cleaning products, housewares, or perfume can be your source of financial independence. And, as evidenced by those late-night infomercials, the always lucrative area of real estate investment is almost certain to turn you into a gadzillionaire by next Thursday. Or perhaps tinkering in the financial markets with penny stocks, gold futures, or silver options is more your cup of tea. (My personal favorite is the Darling Donna's Chimney Sweep outfit that gives you the opportunity for a meaningful career in the high-profile field of chimney maintenance products.) The question for today is: Are any of these get-rich-quick schemes better than buying a lottery ticket?
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Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for jovial bank tellers.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
"Look at the abundance all around you as you go about your daily business. You have as much right to this abundance as any other living creature. It's yours for the asking."

-- Earl Nightingale

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