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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.

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TOTAL PHYSICAL PRODUCT

The total quantity of output produced by a firm for a given quantity of inputs. Total physical product is actually nothing more than total product. The insertion of the word "physical" merely keeps the phrase consistent with average physical product and marginal physical product, two terms useful in marginal-productivity theory and the analysis of factor demand.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either a rim for your spare tire or decorative celebrity figurines. Be on the lookout for vindictive digital clocks with revenge on their minds.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage. "

-- Jack Welch, General Electric chief executive

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