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THREE QUESTIONS OF ALLOCATION: The three basic questions that an economy must answer because of limited resources and unlimited wants and needs are: What? How? and For Whom? The basic problem of scarcity requires every society to determine: What goods to produce? How to produce the goods? and Who receives the goods that are produced?
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SWOT: A strategic approach to analyzing the internal attributes of an organization. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This is usually done after environmental scanning is performed. Strengths focuses on those components of the business that make it unique and strong. Weaknesses can be those parts that put the company at risk, either now or in the future. Opportunities are possible changes in laws, technology or other variables that create windows for future growth. Threats can encompass new competitors, new regulations, or other dangerous variables that must be addressed. See also | strategic planning | business strategies | marketing plan | business plan | environmental scanning |
Recommended Citation:SWOT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: December 1, 2023].
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VARIABLES Quantities, usually represented as symbols, that can take on one of a set of values. A variable is "variable" because its value can "vary." A primary goal of economic analysis is to determine the specific value that a variable takes on under specific circumstances.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites seeking to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Sometimes our light goes out, but is blown into flame by another human being. Each of us owes deepest thanks to those who have rekindled this light. " -- Albert Schweitzer, missionary physician
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RONA
Return on Net Assets
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