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KONDRATIEFF CYCLE: A cycle of economic activity lasting between 45 and 60 years that acquired the name of the first economist to study it, the Russian economist N. D. Kondratieff. The Kondratieff cycle is somewhat controversial and has been attributed to a number of different causes, including investment in transportation infrastructure. This is one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Kitchin cycle, Juglar cycle, and Kuznets cycle.
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AVERAGE VARIABLE COST CURVE A curve that graphically represents the relation between average variable cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average variable cost and the level of output, holding other variables, like technology and resource prices, constant. The average variable cost curve is one of three average curves. The other two are average total cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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PINK FADFLY
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Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for strangers with large satchels of used undergarments.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"I think luck is the sense to recognize an opportunity and the ability to take advantage of it . The man who can smile at his breaks and grabs his chance gets on." -- Samuel Goldwyn, Film executive
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