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JOB: Specific employment activities associated with a production process that are usually undertaken by a single worker. For example, someone might have the job of serving food or repairing cars. Others might have the job of teaching economics. The word "job" is the primary designation applied to a worker when hired by an employer. It is commonly used as a modifier for other terms, such as job satisfaction or job security, as reference to specific aspects of working or employment.
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AVERAGE VARIABLE COST Total variable cost per unit of output, found by dividing total variable cost by the quantity of output. When compared with price (per unit revenue), average variable cost (AVC) indicates whether or not a profit-maximizing firm should shut down production in the short run. Average variable cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average fixed cost. A related concept is marginal cost.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"A leader is most successful when people barely know he exists. When his work is done, his aim fulfilled, his troops will feel they did it themselves. " -- Lao-Tzu, philosopher
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R&D
Research and Development
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