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ARP: The abbreviation for average revenue product, which is total revenue generated per unit of a variable input, keeping all other inputs unchanged. Average revenue product, usually abbreviated ARP, is found by dividing total revenue by the variable input. Average revenue product is most often used in the analysis of the demand for productive inputs.

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FREE GOOD

A good that provides satisfaction of wants and needs without imposing an opportunity cost on society by preventing the production or consumption of other consumer-satisfying goods or services. Production using free goods is generally undertaken using free resources.

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APLS

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Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for pencil sharpeners with an attitude.
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Two and a half gallons of oil are needed to produce one automobile tire.
"When your values are clear to you, making decisions becomes easier. "

-- Roy Disney, executive

WTO
World Trade Organization
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