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NATURAL RESOURCES: The naturally occurring resources that are naturally a part of our natural planet which are directed toward production--including land, water, wildlife, vegetation, air, climate, sunshine, mineral deposits, and soil nutrients. Natural resources provide the "stuff" that's used to produce all of the tangible products in the economy, including both consumer goods used for immediate satisfaction of wants and needs and capital used for further production.

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AVERAGE PRODUCT CURVE

A curve that graphically illustrates the relation between average product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit output at each level of the variable input. The average product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and marginal product curve.

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Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a pair of designer sunglasses or looseleaf notebook paper. Be on the lookout for the last item on a shelf.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
"In a restless, creative business with an emphasis on experiment and development, ideas are the lifeblood."

-- Richard Branson, Virgin Group founder

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