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TOTAL FIXED COST: Cost of production that does NOT change with changes in the quantity of output produced by a firm in the short run. Total fixed cost is one part of total cost. The other is total variable cost. At any and all levels of output, fixed cost is the same. It doesn't change. This includes cost that is not dependent on, or unrelated to, production. The best way to identify fixed cost is to produce zero output. Fixed cost is incurred whether or not any output is produced. A cost measure directly related to total fixed cost is average fixed cost.
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RECESSION A phase of the business cycle characterized by a general period of declining economic activity. A recession is one of two basic business cycle phases. The other is expansion. The transition from recession to expansion is termed a trough and the transition from expansion to recession is termed a peak. The technical term for recession, which is generally used by economists and policy makers, is contraction.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads looking to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for jovial bank tellers.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Well done is better than well said. " -- Benjamin Franklin, statesman, inventor
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RCPC
Regional Check Processing Center
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