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CAPITAL: One of the four basic categories of resources, or factors of production. It includes the manufactured (or previously produced) resources used to manufacture or produce other things. Common examples of capital are the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. Capital's primary role in the economy is to improve the productivity of labor as it transforms the natural resources of land into wants-and-needs-satisfying goods.
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PLANNING HORIZON Another term for the long-run average cost curve. The long-run average cost curve is termed the planning horizon or planning curve because it provides information that a firm can use to plan factory construction and expansion in the long run.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for poorly written technical manuals.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"There is more to life than increasing its speed. " -- Mohandas Gandhi, activist
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NDP
Net Domestic Product
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