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INCREASING OPPORTUNITY COST: The proposition that opportunity cost, the value of foregone production, increases as more of a good is produced. This 'law' is most important to the slope of the production possibilities curve. It generates the convex shape of the curve, making the curve flat at the top and steep at the bottom.
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VOTING RULES The guidelines followed by groups of individuals or members of society when making collective or joint decisions that involve casting formal indications of choice (that is, votes). The five most noted voting rules are majority, super majority, unanimity, plurality, and weighted. These rules determine if a choice is or is not approved by the voting group. Voting rules are important for the study of public choice and government inefficiencies that arise in the voting process due to the median voter, logrolling, and the voting paradox.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet hoping to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for high interest rates.
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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Never confuse a single defeat with a final defeat." -- F. Scott Fitzgerald, writer
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AR
Average Revenue, Autoregressive
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