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June 15, 2024 

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KILLER APPLICATION: A computer program that is so incredibly useful, popular, and profitable that the company responsible for development achieves enormous growth in a relatively short time period. Several computer companies developed killer applications during the 1980s and 1990s, which contributed greatly to the computer revolution. The Lotus 1-2-3 spreadsheet program was among the first, and perhaps most noted, killer applications. This program motivated millions of businesses and consumers in the early 1980ds to purchase personal computers.

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COMMUNISM: In theory, an economy based on -- (1) a classless society, where everyone does their best to contribute to the common good, (2) a common, rather than individual, ownership of all resources, (3) the complete disappearance of government, and (4) income allocated based entirely on need rather than on resource ownership or contribution to production (that is, a needs standard, compare contributive standard).

     See also | economy | economic system | socialism | government | command economy | resources | private property | needs standard | contributive standard | capitalism | central planning | efficiency |


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COMMUNISM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: June 15, 2024].


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SIGNALLING

When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Signalling is used by those with more information to reduce the cost of informing those with less information. It is commonly used in markets with adverse selection. Methods of signalling include advertising, brand names, and warranties. A related method is screening.

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Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for telephone calls from former employers.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
"Be kind and merciful. Let no one ever come to you without coming away better and happier."

-- Mother Teresa of Calcutta, humanitarian

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