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Library of Economics and Liberty

Library of Economics and Liberty
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PBS: Public Broadcasting Service Measuring Worth - Measures of worth, inflation rates, saving calculator, relative value, worth of a dollar, worth of a pound, purchasing power, gold prices, GDP, history of wages, average wage Measures of Worth Lawrence H. Officer and Samuel H. Williamson Clearly, intrinsic values, objects, or events are difficult, if not impossible, to measure in money terms. We are concerned with measuring the worth of items with which both a monetary value and a past time period are clearly associated. Undoubtedly, the worth of such monetary amounts is also difficult to measure. In most cases, if the transaction takes place today or the asset is in existence today, and if the money amount involved is in a range with which we are accustomed, then this discussion is considered trivial. When the transaction or asset is not in a range we with which we are familiar, such as 100 million dollars or pounds, or if the transaction or asset occurred or existed in a time different from that in which we live or can remember, then it is much harder to "know" the comparables. Indicators While there can be a large number of indicators, we present six common ones here, that can be classified into four types.

RePEc: Research Papers in Economics Economic Goods – definition and examples An economic good is a good or service that has a benefit (utility) to society. Also economic goods have a degree of scarcity and therefore an opportunity cost. This is in contrast to a free good (like air, sea water) where there is no opportunity cost – but abundance. Free goods cannot be traded because nobody living by the sea would buy seawater – there is no point. However with economic goods where there is some scarcity and value, people will be willing to pay for them. Another feature of an economic good is that if it can have a value placed on the good, it can be traded in the market place and valued using a form of money. An economic good will have some degree of scarcity in relation to demand. Readers Question: Can endangered plant/animal species be economic goods? Firstly, do endangered plants / animal species have a value to man? Many endangered plants and species do have a benefit to humanity, even if we are not aware of them. Is the smallpox virus an economic good? Conclusion

IDEAS: Economics and Finance Research National Academies Keck Futures Initiative - NAKFI Grants - Futures interdisciplinary research grants provide seed funding to Futures Conference research participants, on a competitive basis, to enable further pursuit of important new ideas and connections stimulated by the national conference, bringing people together in a variety of new ways and sparking new interdisciplinary research. The grants provide select researchers an opportunity to explore new research areas, learn new skills, and/or collaborate across disciplines, in cases where this would not otherwise be possible. These grants will help researchers move towards the interfaces between disciplines. The grant application process for Advanced Nuclear Technologies closed on Thursday, February 6, 2014 at 3:00pm Pacific Time/6:00pm Eastern Time/5:00pm Central Time. If you submitted an application you should have received a confirmation email on Friday, February 7, 2014. Grant awards will be announced sometime second quarter 2014.

Small World Group | Angel Investing EconPapers Want vs. Need: Basic Economics Part 1 Want vs. Need: Basic Economics Part 1: Basic Wants and Needs One of the most basic concepts of economics is want vs. need. What are they exactly? A need is something you have to have, something you can't do without. A want is something you would like to have. These are general categories, of course. You need to eat protein, vitamins, and minerals. Ice cream is a want. OK, we've covered food. Next page > More and a quiz > Page 1, 2 Graphics courtesy of ArtToday

Enciclopedia Y Biblioteca Virtual De Las Ciencias Sociales, Económicas Y Jurídicas Human Media A Thanksgiving Cornucopia of Wrongest Products | David Bergman: EcoOptimism We could almost throw in the 1000 thread count towel and just admit we’ve been insurmountably topped in the Wrongest Product Awards competition. First came the suggestion from a reader following our nomination of the lighted pillow spied in a local outpost of a chain store. (local chain store = oxymoron?) He noticed the proud and iconic “As Seen on TV” logo and mentioned he’d once survived a visit to the As Seen on TV store. (We didn’t even know there was such a thing. Then along comes a post from one of our favorite blogs, Unconsumption, linking to a thoroughly justified lampoon of the Williams-Sonoma catalog. $29.95 from Williams-Sonoma vs free as suggested by Real Simple via Unconsumption favorite gift for an instant greenie: a “reclaimed rustic chicken coop” that costs $759.95 with a painted chicken on the side or $599.95 without. Previous Wrongest Product Award nominations Wrongest Product Award nominations are open!

KOF Index of globalization

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