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CAPACITY UTILIZATION RATE: The ratio of actual production by business sector factories and other productive establishments in the economy to the potential production of these establishments. This rate indicates if our economy's factories are being used as effectively and as fully as possible. Like the unemployment rate, the capacity utilization rate measures how close our economy is to full employment. And like unemployment, this rate moves up and down over the course of a business cycle. During expansions, the rate is near 85 percent (considered full employment), and during contractions, it tends to be in the 70 percent range. In addition to an overall rate, there are also separate rates for manufacturing, mining, and utility industries.
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AVERAGE REVENUE, MONOPOLISTIC COMPETITION The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopolistically competitive firm average revenue is greater than marginal revenue. Average revenue for a monopolistically competitive firm is often depicted by a negatively-sloped average revenue curve.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack of will. " -- Vince Lombardi
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NEDC
National Economic Development Council
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