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ENTERPRISE: An organization that combines scarce resources for the production and supply of goods and services. The term enterprise is generally used synonymously with other terms such as business, firm, and company. If a distinction exists, enterprise can be profit oriented, nonprofit, privately owned, or government controlled. Alternatively, the term enterprise might also be used more in reference to the production activity itself rather than the organization.
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LAW OF INCREASING OPPORTUNITY COST The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates a distinctive convex shape, flat at the top and steep at the bottom.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for the happiest person in the room.
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More money is spent on gardening than on any other hobby.
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"Every time you win, it diminishes the fear a little bit. You never really cancel the fear of losing; you keep challenging it. " -- Arthur Ashe, tennis player
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QLR
Quasi-Likelihood Ratio
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