The AmosWEB GLOSS*arama is a searchable database of 2000 economic terms and concepts. GLOSS*arama entries range from A ("a" -- the vertical intercept of a straight line) to Z ("zoning" -- legal restrictions on the location of an activity).

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A condition in which a given good or resource is limited relative to its desired uses. This is a special condition of the general condition of scarcity. A scarce good or resource is typically exchanged through markets and carries a positive price.

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It's time for another one of our frequent stops at Mr. Market Super Food Discount Store, this time to check out the story behind retail prices. As consumers, we spend a large fraction of our nonworking, nonsleeping lives wandering grocery stores aisles, searching clothing store racks, and surveying department store displays for the right product at the right price. How do we know, like the name of the long-running game show, if "The Price is Right?" How are retail prices set and do they really tell us the value of a product?
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Today, you are likely to spend a great deal of time watching infomercials seeking to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?

-- Ayn Rand, writer

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