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FINAL GOOD: A good (or service) that is available for purchase by the ultimate or intended user with no plans for further physical transformation or as an input in the production of other goods that will be resold. Gross domestic product seeks to measure the market value of final goods. Final goods are purchased through product markets by the four basic macroeconomic sectors (household, business, government, and foreign) as consumption expenditures, investment expenditures, government purchases, and exports. Final goods, which are closely related to the term current production, should be contrasted with intermediate goods--goods (and services) that will be further processed before reaching their ultimate user.
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MARGINAL REVENUE PRODUCT AND FACTOR DEMAND A perfectly competitive firm's factor demand curve is that negatively-sloped portion of its marginal revenue product curve. A perfectly competitive firm maximizes profit by hiring the quantity of input that equates factor price and marginal revenue product. As such, the firm moves along its negatively-sloped marginal revenue product curve in response to changing factor prices.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Do not stop thinking of life as an adventure. You have no security unless you can live bravely, excitingly, imaginatively, unless you can choose a challenge instead of a competence. " -- Eleanor Roosevelt, first lady
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RONA
Return on Net Assets
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