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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.
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MARGINAL UTILITY AND DEMAND An explanation of the law of demand and the negatively-sloped demand curve based on utility analysis and the law of diminishing marginal utility. The law of diminishing marginal utility states that marginal utility declines as consumption increases. Because demand price depends on the marginal utility obtained from a good, price also declines as consumption increases, meaning price and quantity demanded are inversely related, which is the law of demand.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for gnomes hiding in cypress trees.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"The only profit center is the customer." -- Peter Drucker, educator
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SPSS
Statistical Product and Service Solutions, Statistical Package for the Social Sciences (software)
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