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EQUIPMENT: One of the main categories of capital. Other categories are structures and inventories.

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TOTAL FACTOR COST CURVE, MONOPSONY

A curve that graphically represents the relation between total factor cost incurred by a monopsony when using a given factor of production to produce a good or service. The total factor cost curve is most important in factor market analysis for the derivation of the marginal factor cost curve.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for slow moving vehicles with darkened windows.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
"Always dream and shoot higher than you know how to. Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself."

-- William Faulkner, writer

IRR
Internal Rate of Return
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