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GROWTH RATE OF PRODUCTION: The percentage change in (usually real) gross domestic product from one year to the next. This is used to indicate the degree of progress or economic growth of an economy.
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MARGINAL REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between the marginal revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because a perfectly competitive firm is a price taker and faces a horizontal demand curve, its marginal revenue curve is also horizontal and coincides with its average revenue (and demand) curve. A perfectly competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"We may affirm absolutely that nothing great in the world has been accomplished without passion." -- Hegel
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DTI
Department of Trade and Industry (UK)
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