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LEAKAGE: A non-consumption uses of income, including saving, taxes, and imports. Leakages are combined with injections in the injection-leakage model used to identify equilibrium aggregate output in Keynesian economics. The notion of leakage is best viewed through the circular flow, in which saving, taxes, and imports are "leaked" out of the main flow between output, factor payments, national income, and consumption.
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FIXED COST In general, cost that does not change with changes in the quantity of output produced. More specifically, fixed cost is combined with the adjectives "total" and "average" to indicate the overall level of fixed cost or the per unit fixed cost. Fixed cost is incurred whether of not any output is produced. The contrast to fixed cost is variable cost, cost which does change with the quantity produced.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for fairy dust that tastes like salt.
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Lombard Street is London's equivalent of New York's Wall Street.
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"I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average." -- President Franklin Delano Roosevelt
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Income
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