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SAVING: The after-tax disposable income of the household sector that is not used for consumption expenditures. In general terms, saving is the use of income to purchase legal claims through financial markets rather than the direct purchase of physical goods and services. In the macroeconomic world modeled by the circular flow, saving is the diversion of household income away from consumption and into the financial markets. In this model, saving is a primary source of funds used for business investment expenditures for capital goods. Saving is also used to finance government expenditures.
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AVERAGE FACTOR COST CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average factor cost incurred by a perfectly competitive firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a perfectly competitive firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for neighborhood pets, especially belligerent parrots.
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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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"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. " -- Andrew Carnegie, entrepreneur
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QLR
Quasi-Likelihood Ratio
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