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FACTOR MARKET ANALYSIS: An analysis of the structure and equilibrium determination of markets that exchange the services of productive resources. This analysis highlights principles and concepts that tend to be most commonly associated with factor markets (also termed resource markets), including monopsony and bilateral monopoly. Marginal revenue product is a key concept on the demand side of the factor market. Marginal factor cost is a key concept on the supply side of the factor market.
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ABILITY-TO-PAY PRINCIPLE A taxation principle stating that taxes should be based on the ability to pay taxes. The ability-to-pay principle works from the proposition that those who have the greatest income should pay the most taxes. The ability-to-pay principle is the only reasonable way to finance the provision of public goods such as national defense, public health, and environmental quality. This is one of two taxation principles. The other is the benefit principle, which states taxes should be based on the benefits received.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"The way employees treat customers reflects the manner in which they're treated by management. " -- James Perkins, president, Cornell University
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NPV
Net Present Value
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