Tuesday  March 28, 2023
 AmosWEB means Economics with a Touch of Whimsy!
 COMPARABLE WORTH: The notion that different jobs requiring comparable, but not identical, skills should be paid the same wage. The logic behind comparable worth is that centuries (perhaps even millennia) of discrimination against women by men have relegated women to second-class, poorly paid jobs with little or no chance for advancement. Men, in contrast, with the same education, skills, and abilities are able to get the better, higher paying jobs. Comparable worth would be a program in which different jobs are evaluated and scored, based on the skills, responsibilities, and education needed. Jobs with the same scores would then be required to have the same pay.
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RATE OF RETURN: The ratio of the additional annual income or profit generated by an investment to the cost of the investment. Here's a simple example, although the calculations are usually a great deal more involved for actual investments. If the cost of constructing a new factory is \$10 million and it gives you an extra \$1 million in profit each year, then its rate of return is 10 percent.

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COEFFICIENT OF ELASTICITY

A numerical measure of the relative response of one variable to changes in another variable. The coefficient of elasticity is used to quantify the concept of elasticity, including price elasticity of demand, price elasticity of supply, income elasticity of demand, and cross elasticity of demand. The coefficient can be calculated using the simple endpoint or midpoint formulas or with more sophisticated calculus and logarithmic techniques.

 BLACK DISMALAPOD[What's This?] Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for rusty deck screws.Your Complete Scope
 Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
 "Do not go where the path may lead, go instead where there is no path and leave a trail."-- Ralph Waldo Emerson
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