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MARGINAL REVENUE: The change in total revenue resulting from a change in the quantity of output sold. For a perfectly competitive firm, marginal revenue is equal to price.
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BANK RUN A situation in which a relatively large number of a bank's customers attempt to withdraw their deposits in a relatively short period of time, usually within a day or two. While common throughout the 1800s and early 1900s, government deposit insurance has largely eliminated banks runs in the modern economy. Historically a bank run was prompted by fears that the bank was on the verge of collapse, causing deposits to become worthless. Ironically a bank run often caused the bank to fail. Bank runs were often infectious, leading to economy-wide bank panics and business-cycle contractions.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for the happiest person in the room.
Your Complete Scope
This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"The time your game is most vulnerable is when you're ahead; never let up. " -- Rod Laver, Tennis player
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ITO
International Trade Organization
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