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September 21, 2021 

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PERSONALITY: A consistent pattern of behavior in certain situations. These behavioral tendencies are influenced by both hereditary and environmental factors resulting in individual characteristics. Marketing researchers look for certain personality characteristics that affect patterns of consumer buying behavior.

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Lesson 4: Production Possibilities | Unit 5: Investment Page: 23 of 24

Topic: Scarcity <=PAGE BACK | PAGE NEXT=>

Scarcity is THE economic problem. Investment in capital goods is the source of economic growth and progress that lessens the scarcity problem.
  • Some investment is good, but lot of investment is not necessarily better.
  • If we produce only capital goods and no consumption goods, eventually, with no consumption, people would die.
  • The trick is to strike a balance between capital goods and consumption goods.
  • Answering this question puts us into the realm of normative economics.

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CHAIRMAN OF THE BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM

The head of the Board of Governors of the Federal Reserve System, and thus the person who is effectively in charge of monetary policy for the United States. The Chairman, one of the 7 members of the Board of Governors, serves as Chairman for a 4-year term, and also is Chairman of the powerful Federal Open Market Committee--the Federal Reserve Committee that sets the course of monetary policy. Being positioned at the top of the central banking authority of the United States, the Chairman is one of the most powerful, if not THE most powerful, individuals in the economy.

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APLS

BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a rim for your spare tire or decorative celebrity figurines. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?

Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

CPSC
Consumer Product Safety Commission
A PEDestrian's Guide
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