|
|
TOTAL PHYSICAL PRODUCT: The total quantity of output produced by a firm for a given quantity of inputs. Total physical product is actually nothing more than a fancy term for total product. The additional of the second term physical merely keeps the phrase consistent with average physical product and marginal physical product, two terms useful in marginal productivity theory and the analysis of factor demand. However, average physical product and marginal physical product are really just average product and marginal product.
Visit the GLOSS*arama
|
|
|
|
|
GAME THEORY An analysis that illustrates how the choices between two players affect the outcomes of a "game." Game theory is commonly used to explain the behavior and decision making of oligopolistic firms. It illustrates that cooperation, rather competition, between two "players" can lead to an outcome that is more beneficial to both players.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for deranged pelicans.
Your Complete Scope
This isn't me! What am I?
|
|
|
Al Capone's business card said he was a used furniture dealer.
|
|
|
"Few things help an individual more than to place responsibility upon them and to let them know that you trust them." -- Booker T. Washington
|
|
FITW
Federal Income Tax Witholding
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
