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PERFECT COMPETITION AND DEMAND: The demand curve for the output produced by a perfectly competitive firm is perfectly elastic at the going market price. The firm can sell all of the output that it wants at this price because it is a relatively small part of the market. As a price taker, the firm has no ability to charge a higher price and no reason to charge a lower one. The market price facing a perfectly competitive firm is also the firm's average revenue and, most importantly, its marginal revenue.
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CERTIFICATES OF DEPOSIT Interest-paying bank accounts maintained by traditional commercial banks, credit unions, savings and loan associations, and mutual savings banks that stipulate a fixed interest rate and the length of maturity before the funds can be withdrawn. Certificates of deposit (CDs) pay a higher interest rate than regular savings accounts, but the funds cannot be withdraw at the full interest rate until the maturity date. These are one of two types of time deposits. The other is savings deposits. Certificates of deposit, along with savings deposits and other near monies, are added to M1 to derive M2.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. " -- Bernard Shaw, journalist
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CAP
Common Agricultural Policy
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