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VERTICAL EQUITY: A system of taxes that treats unequal people unequally. In other words, if you make the less income than someone else and pay fewer personal income taxes, then we have vertical equity.
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PROFIT Generally speaking, the difference between revenue received by a firm for production and cost incurred in the production, or the excess of revenue over cost. Three specific notions of profit exist, each with a different meaning. Accounting profit is the difference between revenue and accounting cost. Economic profit is the difference between revenue and total opportunity cost. Normal profit is opportunity cost of entrepreneurship. Profit is occasionally used synonymously with the term rent, or economic rent.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for strangers with large satchels of used undergarments.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Luck is what happens when preparation meets opportunity. " -- Seneca, Roman philosopher
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AFA
Advertising Federation of America
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