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LAW OF INCREASING OPPORTUNITY COST: The proposition that opportunity cost, the value of foregone production, increases as more of a good is produced. This "law" can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates the distinctive convex shape of the curve, making it flat at the top and steep at the bottom.
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TOTAL FACTOR COST CURVE, MONOPSONY A curve that graphically represents the relation between total factor cost incurred by a monopsony when using a given factor of production to produce a good or service. The total factor cost curve is most important in factor market analysis for the derivation of the marginal factor cost curve.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for broken fingernail clippers.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"The time your game is most vulnerable is when you're ahead; never let up. " -- Rod Laver, Tennis player
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SAFEX
South African Futures Exchange
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