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TOTAL REVENUE: The revenue received by a firm for the sale of its output. Total revenue is one of two parts a firm needs for the calculation of economic profit, the other is total cost. In general, total revenue is the price received for selling a good times the quantity of the good sold at that price. For a perfectly competitive firm, which receives a single unchanging price for all output sold, the calculation is relatively easy. For other real world firms, that charge different prices to different buyers for different quantities, the calculation can be more complex.
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FINAL GOODS Goods (and services) that are available for purchase by their ultimate or intended user with no plans for further physical transformation or as inputs in the production of other goods. Gross domestic product seeks to measure the market value of final goods. Final goods, also termed final goods and services, are purchased through product markets by the four macroeconomic sectors (household, business, government, and foreign) as consumption expenditures, investment expenditures, government purchases, and exports. Final goods, which are closely related to the term current production, do not include intermediate goods--goods (and services) that will be processed further before reaching their ultimate user.
Complete Entry | Visit the WEB*pedia |
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What Do You Have Against DISCRIMINATION?Hunger is, of course, an avoidable malady when ambling through the economy. At the present, I'm easily tempted by a hamburger, fries, and large cola -- a pedestrian meal if there ever was one. As luck would have it, we've found ourselves at the door of Big Ott's Boiled Burger Buffet. Luck, though, is not totally on our side. Big Ott's has a large sign prominently posted at the entry to his establishment. It screams in no uncertain terms: NO PEDESTRIANS ALLOWED. As a well-known, card-carrying pedestrian, I am, to say the least, taken aback. Why on earth would Big Ott's Boiled Burger Buffet refuse service to pedestrians? A quick quiz of an employee reveals that Big Ott once swerved off the sidewalk to avoid striking a pedestrian, causing extensive damage to his sleek, new OmniMotors XL GT 9000 convertible sport coupe. His anger has been since extended to all who travel by foot.
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Visit the PEDestrian's Guide
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel hoping to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for mail order catalogs with hidden messages.
Your Complete Scope
This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"The only place success comes before work is in the dictionary. " -- Vince Lombardi
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VES
Variable Elasticity of Substitution
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