|
|
GROWTH RATE: The percentage change in a variable from one year to the next. The growth rate, in effect, measures how much the variable is growing over time. In that economists (as well as regular human people) are quite interested in economic growth, progress, and a lessening of the scarcity problem, growth rates for different economic variables are closely scrutinized. Among the most important are: real gross domestic product, population, and per capita income. Growth rates are important not only for the analysis of long-run progress (economic growth, economic development), but also short-run instability (business cycles)
Visit the GLOSS*arama
|
|
|
|
|
TOTAL VARIABLE COST AND TOTAL PRODUCT Because variable cost is largely associated with the cost of employing at least one variable input in the short run, the total variable cost curve can be derived from the total product curve. This admittedly simplistic connection between total product and total variable cost is designed to illustrate the fundamental role that the law of diminishing marginal returns plays in the slope and shape of the total variable cost curve. Because he slope of the total variable cost curve, which is also the slope of the total cost curve, is marginal cost, this analysis also indicates how the law of diminishing marginal returns relates to marginal cost.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a large flower pot shaped like a Greek urn or a small palm tree that will fit on your coffee table. Be on the lookout for defective microphones.
Your Complete Scope
This isn't me! What am I?
|
|
|
Three-forths of the gold mined each year is used to manufacture jewelry.
|
|
|
"Give the American people a good cause, and there's nothing they can't lick. " -- John Wayne, actor
|
|
AOM
Australian Options Market
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
