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CAPITAL: One of the four basic categories of resources, or factors of production. It includes the manufactured (or previously produced) resources used to manufacture or produce other things. Common examples of capital are the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. Capital's primary role in the economy is to improve the productivity of labor as it transforms the natural resources of land into wants-and-needs-satisfying goods.
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PRODUCT DIFFERENTIATION Slight differences that exist between two or more goods that are essentially the same and which satisfy the same basic want or need. This is generally pursued in monopolistic competition and oligopoly by firms seeking to increase sales and profit. Many of the best known businesses in the economy practice product differentiation to gain an advantage on the competition and to acquire a bit of market control. For example, Coca-Cola and Pepsi-Cola are very similar, but each has a few differences in terms of taste, packaging, and esteem.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for fairy dust that tastes like salt.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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AV
Actual Value
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