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EQUILIBRIUM: The state that exists when opposing forces exactly offset each other and there is no inherent tendency for change. Once achieved, an equilibrium persists unless or until it is disrupted by an outside force.
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ACCOUNTING PROFIT The difference between the revenue received by a firm and the explicit accounting cost incurred. This is the profit listed on a firm's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. While accounting profit is the "standard" designation of profit used in the business world, economists prefer to use economic profit
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More money is spent on gardening than on any other hobby.
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"Success is more a function of consistent common sense than it is of genius. " -- An Wang, industrialist
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TSP Time Series Econometrics (software)
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