|
|
MARGINAL RETURNS: The change in the quantity of total product resulting from a unit change in a variable input, holding all other inputs fixed. You might recognize this as the definition of marginal product. It is. Marginal returns is an older and more generic term for marginal product. While marginal product has largely replaced marginal returns in most discussions of short-run production, the phrase does persist in a few terms like the law of diminishing marginal returns. When you come upon the phrase marginal returns, more often than not, it's probably referring to marginal product.
Visit the GLOSS*arama
|
|
|
|
|
AVERAGE PROPENSITY TO CONSUME The proportion of household income that is used for consumption expenditures. The average propensity to consume (abbreviated APC) is really nothing more than average consumption. Together with the average propensity to save, it indicates how a given level of income is divided between consumption and saving. A related consumption measure is the marginal propensity to consume.
Complete Entry | Visit the WEB*pedia |
|
|
GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a packet of address labels large enough for addresses of both the sender and the recipient or a key chain with a built-in flashlight and panic button. Be on the lookout for deranged pelicans.
Your Complete Scope
This isn't me! What am I?
|
|
|
A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
|
|
|
"Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good. " -- Joe Paterno, Football coach
|
|
I
Income
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
