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ANNUAL: A standard 12-month period, or one year, used for reporting economic and financial data. Gross Domestic Product and related measures are noted economic data released annually. Many businesses also provide annual financial reports. Another standard reporting period is the quarter.

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TOTAL FACTOR COST, PERFECT COMPETITION

The opportunity cost incurred by a perfectly competitive firm when using a given factor of production to produce a good or service. This is the total cost associated with the use of a particular resource or factor of production--it is the total cost of the factor. For a perfectly competitive firm, the price paid is constant and total factor cost increases at a constant rate. Total factor cost is predominately used in the analysis of the factor market. Two derivative factor cost measures are average factor cost and marginal factor cost.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?

Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
"Before you can inspire with emotion, you must be swamped with it yourself. Before you can move their tears, your own must flow. To convince them, you must yourself believe."

-- Sir Winston Churchill

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