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BUDGET: A statement of the financial position of an entity--especially household, business, or government--based on estimates of anticipated revenues and expenditures. A budget is balanced if the revenues and expenditures are equal. A budget deficit arises if expenditures exceed revenues and a budget surplus exists if revenues are greater than expenditures.
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LAW OF COMPARATIVE ADVANTAGE A principle that states that every nation, worker, or production entity has a production activity that incurs a lower opportunity cost than that of another nation, worker, or production entity, which means that trade between the two can be beneficial to both if each specializes in the production of a good with lower relative opportunity cost. This law is most often studied in the confines of international trade, but it also applies to labor and other types of production.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at an auction looking to buy either a birthday greeting card for your mother that doesn't look like a greeting card or a handcrafted spice rack. Be on the lookout for defective microphones.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"There is no twilight zone of honesty in business. A thing is right or it's wrong. It's black or it's white. " -- John F. Dodge, automaker
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Average Physical Product
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