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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.
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PLANNING HORIZON Another term for the long-run average cost curve. The long-run average cost curve is termed the planning horizon or planning curve because it provides information that a firm can use to plan factory construction and expansion in the long run.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for cardboard boxes.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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London Stock Exchange
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