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LIMITED RESOURCES: Finite quantities of labor, capital, land, and entrepreneurship available to an economy for the production of goods and services. This is one half of the fundamental problem of scarcity that has plagued humanity since the beginning of time. The other half of the scarcity problem is unlimited wants and needs.
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TOTAL COST AND MARGINAL COST A mathematical connection between marginal cost and total cost stating that marginal cost IS the slope of the total cost curve. This relation between total cost and marginal cost is also seen with total variable cost. The slope of the total variable cost curve is marginal cost, as well. The relation between total cost and marginal cost is but another in the long line of applications of the total-marginal relation.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a stretchable, flexible watch band or high-gloss photo paper that works with your printer. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"I can feel guilty about the past, apprehensive about the future, but only in the present can I act." -- Abraham Maslow, Psychologist
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OBX
Oslo Stock Exchange (Norway)
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