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JOINT PRODUCTION: The simultaneous production of two or more goods from the same resource. For example the production of beef also results in the production of leather and the production of lumber also results in the production of sawdust. Joint production can be beneficial, that is, giving a producer multiple products to sell. But it can also be problematic when one of the joint products is undesirable, such as pollution or waste residuals.
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RESOURCE MARKETS Markets that exchange the services of the four factors of production--labor, capital, land, and entrepreneurship. The buyer of factor services is business sector. The seller of these services is the household sector. The study of macroeconomics is concerned with imbalances in the resource markets, especially surpluses and the resulting unemployment of resources. The resource markets, also termed factor markets, are one of three primary sets of macroeconomic markets. The other two are product markets and financial markets.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"The first responsibility of a leader is to define reality. " -- Max DePree, executive
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AV
Actual Value
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