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CENTRAL PLANNING: A system of extensive central government control of an economy, including organizing production and making allocation decisions. This was the popular method of allocating resources and answering the three basic questions of allocation under the communism/socialism economic systems of the Soviet Union, China, and others during the 1950s, 1960s, and 1970s. Applying the communist/socialist philosophy that private property and market allocation were "bad," central planning relied on extremely detailed plans made by government. These plans would set specific production quotas for individual products, parts, components, and inputs fabricated by all of the factories and farms across the economy. This was a daunting, complex task that required detailed production information for hundreds of thousands of different commodities.
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AVERAGE REVENUE PRODUCT CURVE A curve that graphically illustrates the relation between average revenue product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit revenue at each level of the variable input. The average revenue product curve is one of two related curves often used in the analysis of factor demand. The other, and more important, is marginal revenue product curve.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. " -- Steve Jobs, Apple Computer co-founder
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SPSS
Statistical Product and Service Solutions, Statistical Package for the Social Sciences (software)
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