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BIRTH RATE: The number of people born per 1,000 population. The birth rate is compared with the death rate to indicate the natural population growth of a country. (Net migration is also needed in the calculation of the final, overall, actual growth of population.) The birth rate most frequently comes up in economic development discussions of less developed countries and their progress (or lack thereof) through the demographic transition.
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MARGINAL COST AND LAW OF DIMINISHING MARGINAL RETURNS Decreasing then increasing marginal cost, reflected by a U-shaped marginal cost curve, is the result of increasing then decreasing marginal returns. In particular the decreasing marginal returns is caused by the law of diminishing marginal returns. As such, the law of diminishing marginal returns affects not only the short-run production of a firm but also the cost of short-run production. This translates into a positively-sloped supply curve for profit-maximizing competitive firms.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a T-shirt commemorating the 2000 Presidential election or a really, really exciting, action-filled video game. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Success is the ability to go from one failure to another with no loss of enthusiasm." -- Sir Winston Churchill
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ROA
Return on Assets
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