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WEIGHT: When applied to location theory, the relative attractive force of one activity to another based on transportation cost. The weight of an activity in this context is comparable to the weight of matter subject to gravitation forces. The weight of an activity is greater if it incurs higher transportation cost. As such, it is attracted, or pulled, to other activities to reduce transportation cost. With the weight (transportation cost) of an activity is often related to physical weight (heavier items cost more to move), it need not be. Other factors affecting weight include special handling (security, comfort) and type of transportation (walking, automobile, airplane).
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ACCOUNTING COST An actual outlay or expenses incurred in the production of a good that shows up in a firm's accounting statements and records. Accounting cost is an explicit payment (that is, money changing hands) incurred by a firm. Accounting cost, while very important to accountants, company CEOs, shareholders, and the Internal Revenue Service, is only minimally important to economists. The reason is that economists are more interested in economic cost (also called opportunity cost), which is the value of foregone production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for rusty deck screws.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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JV
Joint Venture
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