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May 13, 2021 

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RETAINED EARNINGS: Officially termed undistributed corporate profits, these are corporate profits that are neither paid as corporate profits taxes nor paid to shareholders as dividends. Undistributed corporate profits are important for the derivation of personal income from national income. Because undistributed corporate profits are income that is earned by the shareholders, but not received, it falls in the general category of income earned but not received (IEBNR), and is subtracted from national income in the derivation of personal income.

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PARETO IMPROVEMENT: Based on the Pareto efficiency criterion, the notion that an action improves efficiency if it is possible for one person to benefit without anyone else being harmed. A Pareto improvement is possible if the economy has idle resources or market failures. With idle resources, more production is possible to help some without hurting others. With market failures, corrective actions can eliminate deadweight loss that can then be use for benefits economy-wide. A contrasting condition for attaining efficiency is the Kaldor-Hicks improvement.

     See also | Pareto efficiency | efficiency | Kaldor-Hicks improvement | Kaldor-Hicks efficiency | welfare economics | externality | market failure | unemployment | resources |


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PARETO IMPROVEMENT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: May 13, 2021].


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FOUR ESTATES

A division of society based on the economic functions of consumption, production, regulation, and information that includes governments as the first estate, businesses as the second estate, consumers as the third estate, and journalists as the fourth estate.

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Today, you are likely to spend a great deal of time at an auction hoping to buy either any book written by Stephan King or a T-shirt commemorating next Thursday. Be on the lookout for defective microphones.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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