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GROWTH: The process of increasing the economy's ability to produce goods. Growth is also one of the three macroeconomic goals of an economy (full employment and stability are the other two). Growth is usually measured by increases in gross domestic product or per capita gross domestic product. The main sources of growth are increases in the quantity and quality of the resources. And the primary way of achieving these increases goes by the term investment.
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TOTAL-MARGINAL RELATION A mathematical connection between a marginal value and the corresponding total value stating that the marginal IS the slope of the total curve. This mathematical relation between total and marginal surfaces throughout the study of economics, especially utility (total utility and marginal utility), production (total product and marginal product), cost (total cost and marginal cost), and revenue (total revenue and marginal revenue). A related mathematical relation exists between a marginal value and the corresponding average value.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"One day at a time - this is enough. Do not look back and grieve over the past, for it is gone: and do not be troubled about the future, for it has not yet come. Live in the present, and make it so beautiful that it will be worth remembering." -- Ida Scott Taylor, Author
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PWAC
Present Worth of Annual Costs
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