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Wanda and Ian Are Retired People, Who Enjoy the Warm

question 37

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Wanda and Ian are retired people, who enjoy the warm winters of the south and southwest but don't want to make a complete break from home; so, for the last ten years they have made seasonal migrations from Trenton, NJ to Fort Meyers, FL. Many natives of the Sunbelt affectionately term retires like Wanda and Ian as _____________.


Definitions:

Market Forces

The natural forces of supply and demand that govern the functioning of the free market, determining prices and production levels.

Rival

Describes a good or resource that cannot be consumed by more than one person or entity at the same time without diminishing its availability to another.

Nonexclusive

A property of a good or service where one person's use does not diminish availability to others.

External Benefit

A benefit that results from an economic activity which accrues to unrelated third parties.

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