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FALLACY OF FALSE CAUSE: The logical fallacy of arguing that two events that are correlated (that is, happen at about the same time), are assumed to have a causal connection. In other words, one event causes the other. This was one of the more common fallacies committed by ancient ancestors. During the last full moon, your dog died. Obviously the full moon killed your dog. While this might seem reasonable to anyone spending their lives eating mastodon meat and sleeping in caves, it's actually the fallacy of false cause.
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ACCOUNTING COST An actual outlay or expenses incurred in the production of a good that shows up in a firm's accounting statements and records. Accounting cost is an explicit payment (that is, money changing hands) incurred by a firm. Accounting cost, while very important to accountants, company CEOs, shareholders, and the Internal Revenue Service, is only minimally important to economists. The reason is that economists are more interested in economic cost (also called opportunity cost), which is the value of foregone production.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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LSE
London Stock Exchange
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