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FINAL GOODS: Goods (or services) that are available for purchase by the ultimate or intended user with no plans for further physical transformation or as an input in the production of other goods that will be resold. Gross domestic product seeks to measure the market value of final goods. Final goods are purchased through product markets by the four basic macroeconomic sectors (household, business, government, and foreign) as consumption expenditures, investment expenditures, government purchases, and exports. Final goods, which are closely related to the term current production, should be contrasted with intermediate goods--goods (and services) that will be further processed before reaching their ultimate user.
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AVERAGE FIXED COST Total fixed cost per unit of output, found by dividing total fixed cost by the quantity of output. When compared with price (per unit revenue), average fixed cost (AFC) indicates whether or not a profit-maximizing firm should shutdown production in the short run. Average fixed cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average variable cost. A related concept is marginal cost.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for attractive cable television service repair people.
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More money is spent on gardening than on any other hobby.
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"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
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AMEX
American Stock Exchange
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