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WANT: This is often thought of as a psychological desire which makes life just a little more enjoyable, but which is not physiological necessary to life. You need oxygen, but you want a hot fudge sundae. Satisfaction is achieved by fulfilling wants.
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VARIABLE COST In general, cost that changes with changes in the quantity of output produced. More specifically, variable cost is combined with the adjectives "total" and "average" to indicate the overall level of variable cost or the per unit variable cost. Variable cost depends on the amount produced. If there is no production, then there is no variable cost.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"The secret of getting things done is to act! " -- Dante Alighieri, poet
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NELS
National Educational Longitudinal Survey
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