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INDIFFERENCE MAP: A graph of two or more indifference curves. Higher indifference curves are associated with higher levels of utility.
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AVERAGE PROPENSITY TO CONSUME The proportion of household income that is used for consumption expenditures. The average propensity to consume (abbreviated APC) is really nothing more than average consumption. Together with the average propensity to save, it indicates how a given level of income is divided between consumption and saving. A related consumption measure is the marginal propensity to consume.
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In the early 1900s around 300 automobile companies operated in the United States.
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"Leadership is based on inspiration, not domination; on cooperation, not intimidation. " -- William A. Ward
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GARP
Generalized Axioms of Revealed Preference
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