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COMMAND AND CONTROL: A term frequently used when referring to government regulation of pollution emissions. This is where the government imposes regulations on polluters through the use of licenses, permits, zoning regulations, registration, and other controls. It should be contrasted with other methods of pollution control, especially Pigouvian tax, pollution rights market, Coase theorem, and recycling.
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PERFECT COMPETITION, PROFIT MAXIMIZATION A perfectly competitive firm is presumed to produce the quantity of output that maximizes economic profit--the difference between total revenue and total cost. This production decision can be analyzed directly with economic profit, by identifying the greatest difference between total revenue and total cost, or by the equality between marginal revenue and marginal cost.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for broken fingernail clippers.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"I believe that every right implies a responsibility, every opportunity, an obligation, every possession, a duty. " -- John D. Rockefeller, industrialist
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GSP
Gross State Product
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