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AFRICAN DEVELOPMENT BANK: A regional multilateral development institution engaged in promoting the economic development and social progress of its member countries in Africa. The Bank, established in 1964, started functioning in 1966 with its Headquarters in Abidjan, Cote d' lvoire. The Bank borrows funds from the international money and capital markets. Its shareholders are the 53 countries in Africa as well as 24 countries in the Americas, Europe, and Asia.
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HECKSCHER-OHLIN MODEL: A model of international trade developed by Eli Heckscher and Bertil Ohlin, with significant contributions by Paul Samuelson, that relies on the notion that comparative advantage is based on relative natural resource endowments. A nation with large oil reserves will, for example, have a comparative advantage in oil production over another nation with fertile soil, which will have a comparative advantage in agricultural production. See also | comparative advantage | international trade | foreign trade | specialization | exports | imports |
Recommended Citation:HECKSCHER-OHLIN MODEL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: November 15, 2025].
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VOTING PARADOX The possibility that the voting preferences of a group of individuals results in an inconsistent, or intransitive, ranking. While consistent, or transitive, ranking of preferences is expected for individuals, such might not occur for groups of voters. If a consumer prefers good A to good B and good B to good C, then it makes logical sense that the consumer also prefers good A to good C. The voting paradox arises because a group of individuals might prefer A to B and B to C, but then prefer C to A, an inconsistent and intransitive ranking of preferences. Other related voting problems identified by the study of public choice includes the median voter principle, logrolling, and voter apathy (due to rational ignorance and rational abstention).
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for the last item on a shelf.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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NYCE
New York Cotton Exchange
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