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COMPETITIVE FORCES: Forces in the marketing environment that are based on competition among customers and competition with other firms. As the organization looks out at its business environment, competition is a critical factor. Who is buying goods and services and who is providing them to those customers? Are there many competitors or are there just a few? Maybe none. Knowing what competitive forces exist helps an organization develop strategic planning to attract customers.
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TOTAL REVENUE CURVE A curve that graphically represents the relation between the total revenue received by a firm for selling its output and the quantity of output sold. It is combined with a firm's total cost curve to determine economic profit and the profit maximizing level of production. The slope of the total revenue curve is marginal revenue. The total revenue curve for a firm with no market control is a straight line. The total revenue curve for a firm with market control is "hump-shaped."
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for telephone calls from long-lost relatives.
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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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"The will to win is important, but the will to prepare is vital. " -- Joe Paterno, football coach
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CAP
Common Agricultural Policy
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