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LAISSEZ FAIRE: A french term that translates into "leave us alone." It has become the rallying cry for many business leaders of the second estate who oppose government intervention, regulation, or even taxation. It's based on the belief that markets alone can achieve an efficient allocation of our resources. This laissez faire philosophy of should be contrasted directly with the philosophy of paternalism, which essentially says "Government needs to care for you because you can't care for yourself."
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AVERAGE REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a perfectly competitive firm's output.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time at an auction hoping to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for telephone calls from former employers.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"There's only one way to succeed in anything, and that is to give everything. " -- Vince Lombardi
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AFBD
Association of Futures Brokers and Dealers (UK)
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