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KILLER APPLICATION: A computer program that is so incredibly useful, popular, and profitable that the company responsible for development achieves enormous growth in a relatively short time period. Several computer companies developed killer applications during the 1980s and 1990s, which contributed greatly to the computer revolution. The Lotus 1-2-3 spreadsheet program was among the first, and perhaps most noted, killer applications. This program motivated millions of businesses and consumers in the early 1980ds to purchase personal computers.
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Lesson 2: Economic Science | Unit 2: Theory
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Page: 5 of 20
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Here are three notable aspects of scientific theories:- Universal: Theories are best if they apply to a wide variety of events. The scientific method is the process of identifying general principles that eliminate exceptions.
- World View: Theories typically build upon a world view as part of their general body of principles.
- Verified Principles. These are confirmed through the process of hypotheses testing.
- Unverifiable Axioms. These are beliefs that are not directly testable against real world data. These are accepted on faith.
- Political: The world view reflected in an economic theory is usually associated with a political philosophy.
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FOUR-SECTOR, THREE-MARKET CIRCULAR FLOW A circular flow model of the macroeconomy containing four sectors (business, household, government, and foreign) and three markets (product, factor, and financial) that illustrates the continuous movement of the payments for goods and services between producers and consumers, with particular emphasis on exports and imports. Other circular models are two-sector, two-market circular flow; two-sector, three-market circular flow; and three-sector, three-market circular flow.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"The road to success is always under construction. " -- Lily Tomlin, Actress
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CBOT
Chicago Board of Trade
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