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PERFECT COMPETITION, LOSS MINIMIZATION: A perfectly competitive firm is presumed to produce the quantity of output that minimizes economic losses, if price is greater than average variable cost but less than average total cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and shutdown (if price is less than average variable cost).
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FOREIGN SECTOR The aggregate macroeconomic sector that contains everyone and everything beyond the political boundaries of the domestic economy--including households, businesses, and governments in other countries. The primary function of the foreign sector is to undertake external activity that is outside the control of the domestic economy. This is one of the four macroeconomic sectors. The other three are household sector, business sector, and government sector.
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GREEN LOGIGUIN
[What's This?]
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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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
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AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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