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MARGINAL FACTOR COST: The change in total factor cost resulting from a change in the quantity of factor input, found by dividing the change in total factor cost by the change in quantity of factor input. Marginal factor cost, abbreviated MFC, indicates how a firm's total factor cost is affected by hiring one more or one fewer worker. Two related concepts are total factor cost and average factor cost.
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SAVING The after-tax disposable income of the household sector that is not used for consumption expenditures. Saving primarily involves the use of income to purchase legal claims through financial markets rather than the direct purchase of physical goods and services (which is consumption expenditures). In the circular flow model, saving is the diversion of household income away from consumption expenditures and into the financial markets, which then flows to business investment expenditures and government purchases. Saving is one of two basic uses of disposable income. The other is consumption expenditures.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a square lamp shade with frills along the bottom or an electric coffee pot with automatic shutoff. Be on the lookout for defective microphones.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"The will to win is important, but the will to prepare is vital. " -- Joe Paterno, football coach
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SEHK
Stock Exchange of Hong Kong
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