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MARGINAL PROPENSITY TO SAVE: The proportion of each additional dollar of household income that is used for saving. Or alternatively, this is the change in saving due to a change in disposable income. Abbreviated MPS, the marginal propensity to save is the slope of the saving or propensity-to-save line. It also takes center stage for the multiplier effect. In particular, the inverse of the MPS is the simple expenditure multiplier. The sum of the marginal propensity to save and the related concept, the marginal propensity to consume, is equal to one.
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PRODUCTION COST The opportunity cost of using labor, capital, land, and entrepreneurship in the production of goods and services. The price received by a seller must be high enough to cover production cost. The law of supply is based on the proposition that production cost increases with an increase in the quantity produced and supplied.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a birthday gift for your uncle or a pair of red and purple designer socks. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"Good judgment comes from experience, and often experience comes from bad judgment." -- Rita Mae Brown ‚ Writer
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OAPEC
Organization of Arab Petroleum Exporting Countries
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