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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.
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BIG BUSINESS: A small number of the largest businesses (usually corporations) in our economy that (1) produce a substantial share of total output, (2) control a bunch of our economy's resources, and (3) have a great deal of market control in their respective industries. A listing of the Fortune 500 companies provides an idea for those businesses that have achieved the status of "big." The second estate obtains most its members from the presidents, shareholders, boards of directors, and high-level managers of big business. See also | business | corporation | economy | resources | market control | industry | Fortune 500 | second estate | small business |
Recommended Citation:BIG BUSINESS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: June 26, 2022].
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DIAMOND-WATER PARADOX The apparently conflicting and perplexing observation that water, which is more useful than diamonds, has a lower price than diamonds. This paradox was proposed by economists in the 1800s as a means understanding the role utility plays in the demand price of a good by differentiating between total utility and marginal utility.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"You can't use up creativity. The more you use, the more you have. " -- Maya Angelou, poet
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TIFFE
Tokyo International Financial Futures Exchange (Japan)
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