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TOTAL VARIABLE COST: Cost of production that changes with changes in the quantity of output produced by a firm in the short run. Total variable cost is one part of total cost. The other is total fixed cost. Variable cost depends on the level of output. If a firm produces more output, then variable cost is greater. If a firm produces no output, then variable cost is zero. A cost measure directly related to total variable cost is average variable cost.
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HOUSEHOLD SECTOR The aggregate macroeconomic sector that includes the entire wants and-needs-satisfying population of the economy. The primary economic role of the household sector is consumption. The share of gross domestic product purchased by the household sector is termed consumption expenditures. This is one of four macroeconomic sectors. The other three are business sector, government sector, and foreign sector.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for deranged pelicans.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average." -- President Franklin Delano Roosevelt
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NABB
National Association of Business Brokers
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