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THIRD-WORLD COUNTRY: A country with a relatively low standard of living and which lacks the economic development of more advanced industrialized nations like the United States. Most third-world countries are in Africa, Asia, and South America and often rise to newsworthy prominence when they have a famine, are overthrown by a military dictator, or are invaded by a more developed country. They tend to have high rates of population growth and limited success in doing what's necessary to achieve economic growth.
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TOTAL VARIABLE COST CURVE A curve that graphically represents the relation between total variable cost incurred by a firm in the short-run production of a good or service and the quantity produced. When constructing this curve, it is assumed that total variable cost changes as a result of changes in the quantity of output produced, while other variables like technology and resource prices are held fixed. The total variable cost curve is one of three total cost curves, the other two are total cost curve and total fixed cost curve.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for mail order catalogs with hidden messages.
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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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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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PSBR
Public Sector Debt Repayment
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