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MARGINAL PRODUCT CURVE: A curve that graphically illustrates the relation between marginal product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in output at each level of the variable input. The marginal product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and average product curve. The marginal product curve plays in key role in the economic analysis of short-run production by a firm in large part because economists are generally obsessed with marginal changes in production.
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CAPITAL The manufactured, artificial, or synthetic goods used in the production of other goods, making capital the "produced" factor of production. This is one of four basic categories of resources, or factors of production. The other three are labor, land, and entrepreneurship. Capital makes labor more productive.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for a thesaurus filled with typos.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"A successful man is one who can lay a firm foundation with the bricks others have thrown at him. " -- David Brinkley, newsman
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BIS
Bank for International Settlements
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