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THE WEALTH OF NATIONS: Officially titled An Inquiry into the Nature and Causes of the Wealth of Nations, this book written by Adam Smith and published in 1776, is considered to be the foundation for the modern study of economics. The Wealth of Nations was the first to combine assorted economic discourse and analyses into a single book. One of its most important themes is the efficiency of free trade and market exchanges unrestricted by government that leads to macroeconomic full employment and microeconomic efficiency.
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MARGINAL REVENUE PRODUCT AND FACTOR DEMAND A perfectly competitive firm's factor demand curve is that negatively-sloped portion of its marginal revenue product curve. A perfectly competitive firm maximizes profit by hiring the quantity of input that equates factor price and marginal revenue product. As such, the firm moves along its negatively-sloped marginal revenue product curve in response to changing factor prices.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for crowded shopping malls.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Success is liking yourself, liking what you do, and liking how you do it." -- Maya Angelou, Poet and Author
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FTSE-100
Financial Times Stock Exchange 100 stock index (UK)
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