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June 9, 2026 

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SOCIAL SCIENCE: The scientific study of society--of human behavior and of social interactions. Several social sciences are economics, sociology, political science, and anthropology. Economics is considered a social science because it seeks to explain how society deals with the scarcity problem.

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PERFECT COMPETITION, SHUTDOWN

A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for strangers with large satchels of used undergarments.
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The average bank teller loses about $250 every year.
"You just don't luck into things as much as you'd like to think you do. You build step by step, whether it's friendships or opportunities. "

-- Barbara Bush, first lady

NAG
Net Annual Gain
A PEDestrian's Guide
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