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GROWTH STAGE: The second stage in the product life cycle, characterized by increasing sales, high profits, and market entry by competitors. During this stage a successful product experiences steadily increasing customer acceptance and brand recognition. Advertising and promotion efforts are focused on product differentiation from that of the competition. This is also the stage when companies might withdraw from the market due to lack of acceptance, product failure, or lack of profits.
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TAX WEDGE The difference between demand price and supply price that is created when a tax is imposed on a market. Placing a tax on a market disrupts what otherwise would be an equilibrium equality between demand price and supply price. A tax wedge results because the tax is included in the demand price paid by buyers but not in the supply price received by sellers. With standard demand (negative slope) and supply (positive slope) curves, the incidence of the tax (who pays) is divided between buyers and sellers.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a birthday greeting card for your mother that doesn't look like a greeting card or a handcrafted spice rack. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Are you bored with life? Then throw yourself into some work you believe in with all your heart. Live for it, die for it, and you will find happiness that you had thought could never be yours. " -- Dale Carnegie, writer
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AFC
Average Fixed Cost
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