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ACCOUNTING PROFIT: The difference between a business's revenue and it's accounting expenses. This is the profit that's listed on a company's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. It frequently has little relationship to a company's economic profit because of the difference between accounting expense and the opportunity cost of production. Some accounting expense is not an opportunity cost and some opportunity cost is does not show up as an accounting expenses.
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FOUR-FIRM CONCENTRATION RATIO The proportion of total output in an industry produced by the four largest firms in an industry. This is one of two common concentration ratios. The other is the eight-firm concentration ratio. Another related measure is the Herfindahl index. The four-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control held by the four largest firms in the industry.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Each of us is issued but one life, and we know full well how it all ends. It would be regrettable to squander this one chance on someone else's appearance, someone else's experience. " -- Joseph Brodsky, Writer
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