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INDIFFERENCE MAP: A graph of two or more indifference curves. Higher indifference curves are associated with higher levels of utility.
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MARGINAL RETURNS The change in the quantity of total product resulting from a unit change in a variable input, holding all other inputs fixed. Marginal returns is an older and more generic term for marginal product. While marginal product has largely replaced marginal returns in most discussions of short-run production, the phrase does persist in a few terms like the law of diminishing marginal returns.
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BLUE PLACIDOLA
[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 birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. " -- Andrew Carnegie, entrepreneur
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SELA
Latin American Economic System
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