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SALES MAXIMIZATION: The notion that business firms (especially those operating in the real world) are primarily motivated by the desire to achieve the greatest possible level of sales, rather than profit maximization. On a day-to-day basis, most real world firms probably do try to maximize sales rather than profit. For firms operating in relatively competitive markets, facing relative fixed prices, and relatively constant average cost, then increasing sales is bound to increase profits, too. Moreover, according to the notion of natural selection, even firms that seek to maximize sales, those that also maximize profit will remain in business.
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INFLEXIBLE PRICES The proposition that some prices adjust slowly in response to market shortages or surpluses. This condition is most important for macroeconomic activity in the short run and short-run aggregate market analysis. In particular, inflexible prices (also termed rigid prices or sticky prices) are a key reason underlying the positive slope of the short-run aggregate supply curve. Prices tend to be the most inflexible in resource markets, especially labor markets, and the least inflexible in financial markets, with product markets falling between the two.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for vindictive digital clocks with revenge on their minds.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"After climbing a great hill, one finds many more hills to climb. " -- Nelson Mandela, president of South Africa
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DOC
Department of Commerce
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