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RENT SEEKING: The inclination of everyone who is alive and breathing to get as much as they can for themselves. These stems from the idea of economic rent, which is a payment over above the opportunity cost. People are said to be rent seeking when they try to get higher wages, more profit, or any other payment over above the minimum they would be willing to accept.

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PLANNING HORIZON

Another term for the long-run average cost curve. The long-run average cost curve is termed the planning horizon or planning curve because it provides information that a firm can use to plan factory construction and expansion in the long run.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for letters from the Internal Revenue Service.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
"No task is a long one but the task on which one dare not start: It becomes a nightmare. "

-- Charles Baudelaire, poet-critic

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