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POLITICAL PHILOSOPHIES: The range of philosophical orientations that people have about politics, especially concerning the role of government. While a wide range of differing opinions exist, most tend to fall on a spectrum bound by liberal views on one end and conservative views on the other. Liberals tend to favor a larger role of government and conservatives tend to favor a smaller role.
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COMPETITIVE MARKET A market with a large number of buyers and sellers, such that no single buyer or seller is able to influence the price or control any other aspect of the market. That is, none of the participants have significant market control. A competitive market achieves efficiency in the allocation of scarce resources if no other market failures are present.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"A ship ought not to be held by one anchor, nor life by a single hope. " -- Epictetus, philosopher
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AR(N)
A nth-order Autoregressive Process
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