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SAVING: The after-tax disposable income of the household sector that is not used for consumption expenditures. In general terms, saving is the use of income to purchase legal claims through financial markets rather than the direct purchase of physical goods and services. In the macroeconomic world modeled by the circular flow, saving is the diversion of household income away from consumption and into the financial markets. In this model, saving is a primary source of funds used for business investment expenditures for capital goods. Saving is also used to finance government expenditures.
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AVERAGE FACTOR COST AND MARGINAL FACTOR COST A mathematical connection between average factor cost and marginal factor cost stating that the change in the average factor cost depends on a comparison between average factor cost and marginal factor cost. For perfect competition, with no market control, marginal factor cost is equal to average factor cost, and average factor cost does not change. For monopsony and other firms with market control, marginal factor cost is greater than average factor cost, and average factor cost rises.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for rusty deck screws.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Love looks through a telescope; envy, through a microscope. " -- Josh Billings, humorist
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