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TOTAL REVENUE CURVE, PERFECT COMPETITION: A curve that graphically represents the relation between the total revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. It is combined with a perfectly competitive firm's total cost curve to determine economic profit and the profit maximizing level of production. The slope of the total revenue curve is marginal revenue.
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TWO-SECTOR, THREE-MARKET CIRCULAR FLOW A circular flow model of the macroeconomy containing two sectors (business and household) and three markets (product, factor, and financial) that illustrates the continuous movement of the payments for goods and services between producers and consumers, with particular emphasis on saving, investment, and the role of financial markets. Other circular models are two-sector, two-market circular flow; three-sector, three-market circular flow; and four-sector, three-market circular flow.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for a thesaurus filled with typos.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Success doesn't come to you . . . you go to it " -- Marva Collins, Educator
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APEC
Asia-Pacific Economic Co-operation
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