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WEALTH DISTRIBUTION: The manner in which wealth is divided among the members of the economy. A perfectly equal wealth distribution would mean everyone in the country has exactly the same wealth. In reality, wealth is unequally distributed. A few people have a great deal of wealth and most others have less. Any well-functioning economy, that's doing a pretty good job of satisfying consumer wants and needs, will have some degree of inequality in the distribution of wealth. This occurs because some people have done a good job of producing what people want, and thus grow wealthy. However, wealth tends to perpetuate itself, over and above what may be justified by valuable production. Along with wealth comes market control, political power, and the ability to accumulate more wealth at the expense of others.
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TOTAL REVENUE, MONOPOLY The revenue received by a monopoly firm for the sale of its output. Total revenue is one two bits of information a monopoly firm needs to calculate economic profit, the other is total cost. In general, total revenue is price times quantity--the price received for selling a good times the quantity of the good sold at that price. For a monopoly firm, that charges different prices for different quantities, total revenue increases then decreases. Two other revenue measures directly related to total revenue are average revenue and marginal revenue. Total revenue is often depicted as a total revenue curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Now is the only time there is. Make your now wow, your minutes miracles, and your days pay. Your life will have been magnificently lived and invested, and when you die you will have made a difference." -- Mark Victor Hansen
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VAR
Vector Autoregression
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