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AP: The abbreviation for average product, which is the quantity of total output produced per unit of a variable input, holding all other inputs fixed. It is found by dividing total product by the quantity of the variable input. Average product, abbreviated AP also goes by the alias of average physical product (APP), so don't be confused by the extra term (physical).
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FACTOR DEMAND DETERMINANTS The three most important determinants that shift the factor demand curve are: (1) product price, (2) factor productivity, and (3) prices of other factors. Comparable to any determinant, these three cause the factor demand curve to shift to a new location. An increase in factor demand is a rightward shift of the factor demand curve and a decrease in factor demand is a leftward shift.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for celebrities who speak directly to you through your television.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Chance favors only the prepared mind." -- Louis Pasteur, biologist
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LF
Labor Force, Laissez-Faire
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