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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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AVERAGE REVENUE, MONOPOLISTIC COMPETITION

The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopolistically competitive firm average revenue is greater than marginal revenue. Average revenue for a monopolistically competitive firm is often depicted by a negatively-sloped average revenue curve.

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APLS

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Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for vindictive digital clocks with revenge on their minds.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
"The truth is not for all men, but only for those who seek it. "

-- Ayn Rand, writer

CJE
Canadian Journal of Economics
A PEDestrian's Guide
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