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IMPLICIT OPPORTUNITY COST: An opportunity cost that does NOT involve a money payment or a market transaction. This should be contrasted with explicit cost that DOES involve a money payment or a market transaction. The common misconception among non-economists out there in the real world is that the term "cost" is synonymous with the term "payment," that is, all costs are explicit costs, to be a cost you have to give up some money. Well, I'm here to tell you that this isn't true. Cost is opportunity cost. It's the satisfaction NOT received from activities NOT pursued. It's the value of foregone production. And not all opportunity costs involve a money payment.
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COINCIDENT ECONOMIC INDICATORS Four economic statistics that tend to move up or down along WITH business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points when they actually occur. Coincident economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are leading economic indicators and lagging economic indicators.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"Think not of yourself as the architect of your career but as the sculptor. Expect to have to do a lot of hard hammering and chiseling and scraping and polishing. " -- B. C. Forbes, founder, Forbes magazine
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KCBT
Kansas City Board of Trade
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