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LUDDITE: A term used when referring to people, especially workers and union members, who are violently opposed to the introduction of new technology and technologically advanced machinery. Their opposition stems in part from a fear of something that is new and different and in part from a concern that the new technology will reduced the demand for labor and eliminate their jobs. This name stems for the actions of a group calling themselves Luddites who, from 1811 to 1816, sabotaged knitting machines introduced into the textile industry in England.
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MARGINAL PRODUCT CURVE A curve that graphically illustrates the relation between marginal product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in output at each level of a variable input. The marginal product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and average product curve. The marginal product curve plays in key role in the economic analysis of short-run production by a firm.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Do not stop thinking of life as an adventure. You have no security unless you can live bravely, excitingly, imaginatively, unless you can choose a challenge instead of a competence. " -- Eleanor Roosevelt, first lady
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DCF
Discounted Cash Flow
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