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MARGINAL PROPENSITY TO CONSUME: The proportion of each additional dollar of household income that is used for consumption expenditures. Or alternatively, this is the change in consumption expenditures due to a change in disposable income. Abbreviated MPC, the marginal propensity to consume is the slope of the consumption or propensity-to-consume line that forms the foundation for Keynesian economics. As such, it also takes center stage for the slope of the aggregate expenditure line and the multiplier effect. The sum of the marginal propensity to consume and the related concept, the marginal propensity to save, is equal to one.
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MOBILITY The movement of factors of production from one productive activity to another. In particular, mobility is the ease with which resources can change production activities. Mobility generally takes one of two forms--geographic mobility (movement from place to place) and occupational mobility (movement from job to job). Mobility is a key determinant of factor supply.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for the happiest person in the room.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"There's only one way to succeed in anything, and that is to give everything. " -- Vince Lombardi
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AOQL
Average Outgoing Quality Limit
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