|
|
INCREASING OPPORTUNITY COST: The proposition that opportunity cost, the value of foregone production, increases as more of a good is produced. This 'law' is most important to the slope of the production possibilities curve. It generates the convex shape of the curve, making the curve flat at the top and steep at the bottom.
Visit the GLOSS*arama
|
|
|
|
|
INFORMATION The transfer of knowledge from one person to another. Information is a flow concept. It requires someone (or something) to do the sending and someone to do the receiving. Information is a valuable commodity that provides benefits, but also incurs an opportunity cost to produce, meaning information is never perfect or complete. The existence of asymmetric information (some have more information than others) gives rise to the problems of adverse selection, moral hazard, and the principal-agent problem.
Complete Entry | Visit the WEB*pedia |
|
|
|
On a typical day, the United States Mint produces over $1 million worth of dimes.
|
|
|
"Each of us is issued but one life, and we know full well how it all ends. It would be regrettable to squander this one chance on someone else's appearance, someone else's experience. " -- Joseph Brodsky, Writer
|
|
PPT
Personal Property Tax
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
