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HEDONIC: Derived from the philosophy of hedonism (that happiness is the chief good in life), the notion that value is ultimately dependent on the satisfaction of wants and needs. The word hedonic is most often used together with the word price, as in hedonic price. This suggests the view that price is based on the satisfaction generated by consuming a good, regardless of the source of the satisfaction. This notion of hedonic is closely related to, and largely indistinguishable from, the more common concept of utility.
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Lesson 4: Production Possibilities | Unit 5: Investment
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Page: 21 of 24
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Topic:
Bundle Choices: E
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Now with bundle E (410 jogging shoes and 4 calibrators).- Producing 4 calibrators has added to the economy's quantity of capital.
- The cost of these 4 calibrators is 40 pairs of shoes.
- Expanding the quantity of our capital has increased resources and shift the production possibilities curve.
- Tomorrow's production possibilities curve is farther out than today's curve. There is growth and a shift in the curve.
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BALANCE OF TRADE DEFICIT The negative difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade deficit is the official term for negative net exports that occurs when imports exceed exports. A balance of trade deficit is also termed an "unfavorable" balance of trade because it results in a net outflow of monetary payments from the domestic economic to the foreign sector, which tends to be bad for a country. The alternative is a balance of trade surplus in which exports exceed imports.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at an auction looking to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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CCA
Capital Cost Allowance
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