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FEDERAL COMMUNICATIONS COMMISSION: An federal government agency established by the Communications Act of 1934 that is charged with regulating interstate and international communications by radio, television, wire, satellite and cable. This agency, commonly known by the acronym FCC, consists of five Commissioners appointed by the President and confirmed by the Senate. Each commissioner serves a 5-year term, except when filling an unexpired term. One of the regulatory forces in the marketing environment.
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AVERAGE PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average product, usually abbreviated AP, is found by dividing total product by the quantity of the variable input. Average product, which occasionally goes by the alias average physical product (APP), is one of two measures derived from total product. The other is marginal product.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area wanting to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for malfunctioning pocket calculators.
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John Maynard Keynes was born the same year Karl Marx died.
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"If we all did the things we are capable of doing, we would literally astound ourselves." -- Thomas Edison
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MP
Marginal Product
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