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NOBEL PRIZE IN ECONOMIC SCIENCES: An award given annually since 1969 to an economist or scholar in recognition of a major contribution to the study of economics. It was established by the Bank of Sweden and is annually awarded by the Royal Swedish Academy of Sciences in Stockholm. The official name of the award is The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. It is the only Nobel Prize awarded for a social science. The first Nobel Prize in Economic Sciences was awarded in 1969 to Ragnar Frisch and Jan Tinbergen.
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AVERAGE COST The opportunity cost incurred per unit of good produced. This is calculated by dividing the cost of production by the quantity of output produced. While average cost is a general term relating cost and the quantity of output, three specific average cost terms are average total cost, average variable cost, and average fixed cost. A related cost term is marginal cost.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel looking 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 pencil sharpeners with an attitude.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Try not to become a man of success, but rather try to become a man of value. " -- Albert Einstein
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ABE
Association of Business Executives
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