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PATERNALISM: A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be watched over--like a parent--by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble. This philosophy of paternalism should be contrasted directly with the philosophy of laissez faire, which essentially says "Hey, we're all grown ups here, we can make our own decisions."
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MARGINAL REVENUE, MONOPOLISTIC COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopolistically competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopolistically competitive firm equates marginal revenue and marginal cost.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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BACS
Bankers Automated Clearing Services
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