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VALUE IN USE: The satisfaction of wants and needs provided by the direct consumption of goods and services. Acquiring value from the use of goods and services is really the ultimate goal of economic activity. It is the final step in the production, allocation, and consumption activities that undertaken to address the fundamental problem of scarcity. Value in use should be contrasted with the similar phrase, value in exchange.
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MARGINAL REVENUE, MONOPOLISTIC COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopolistically competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopolistically competitive firm equates marginal revenue and marginal cost.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"If I have ever made any valuable discoveries, it has been owing more to patient attention than to any other talent. " -- Isaac Newton, mathematician, physicist
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LBO
Leveraged Buyout
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