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ADAM SMITH: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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TOTAL FIXED COST CURVE A curve that graphically represents the relation between total fixed cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between total fixed cost and the level of output, holding other variables, like technology and resource prices, constant. Because total fixed cost are, in fact, fixed, the total fixed cost curve is, in fact, a horizontal line. The total fixed cost curve is one of three total cost curves, the other two are total cost curve and total variable cost curve.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for slow moving vehicles with darkened windows.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Time is the scarcest resource, and unless it is managed nothing else can be managed." -- Peter F. Drucker
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PV
Present Value
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