|
|
SEVEN RULES: Seven key economic principles underlying the study of economics and the operation of the economy. These seven rules are: first -- scarcity, second -- subjectivity, third -- inequality, fourth -- competition, fifth -- imperfection, sixth -- ignorance, and seventh -- complexity.
Visit the GLOSS*arama
|
|
|
|
|
AVERAGE REVENUE PRODUCT AND MARGINAL REVENUE PRODUCT A mathematical connection between average revenue product and marginal revenue product stating that the change in the average revenue product depends on a comparison between the average revenue product and marginal revenue product. If marginal revenue product is less than average revenue product, then average revenue product declines. If marginal revenue product is greater than average revenue product, then average revenue product rises. If marginal revenue product is equal to average revenue product, then average revenue product does not change.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for door-to-door salesmen.
Your Complete Scope
This isn't me! What am I?
|
|
|
Al Capone's business card said he was a used furniture dealer.
|
|
|
"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out." -- President Ronald Reagan
|
|
TC
Total Cost
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
