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HARD MONEY: Historically money that is in the form of precious metals, especially gold. In modern times, any national currency that is expected to retain its value (and even appreciate in value), and is readily acceptable for most international transactions. The U.S. dollar, German marc, and Swiss franc tend to be near the top of the list of hard money (also termed hard currency).
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AVERAGE VARIABLE COST Total variable cost per unit of output, found by dividing total variable cost by the quantity of output. When compared with price (per unit revenue), average variable cost (AVC) indicates whether or not a profit-maximizing firm should shut down production in the short run. Average variable cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average fixed cost. A related concept is marginal cost.
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GRAY SKITTERY
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Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a video camera with stop action features or one of those memory foam pillows. Be on the lookout for small children selling products door-to-door.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Rowing harder doesn't help if the boat is headed in the wrong direction. " -- Kenichi Ohmae, management consultant
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APR
Annual Percentage Rate
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