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PHYSICAL SCIENCE: The scientific study of nonhuman, nonsociety phenomenon, such as atoms, planets, wildlife, and continental drift. Common disciplines that study these physical phenomenon go by the names physics, chemistry, biology, geology, and astronomy, among others. The primary reason for this entry is to provide a contrast with social sciences, especially economics, that study human behavior and society.
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AVERAGE PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average product, usually abbreviated AP, is found by dividing total product by the quantity of the variable input. Average product, which occasionally goes by the alias average physical product (APP), is one of two measures derived from total product. The other is marginal product.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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LRD
Longitudinal Research Database
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