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February 22, 2019 

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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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BLACK DISMALAPOD
Your compete MICRO*scope for today

You are the type of person who has worries and troubles that make others scatter for shelter. Family and friends expect to see your mug shot at the post office. Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for door-to-door salesmen. You should consider shopping at stores or businesses beginning with the letter I, but do not buy any products with a serial number or product code containing the number 706037. Your preferred shopping venue is convenience stores. Your special symbol is the pound sign (#).


Is this You?

As a Black Dismalapod, you tend to be grumpy and gloomy, morose and melancholy, and often downcast and disgruntled. You don't really trust others and expect only the worst from them. You are seldom disappointed. You tend to spend a lot of time by yourself. Sadly, you recognize that you are destined to come up on the short end of any economic transaction.


This isn't me! What am I?
AVERAGE FACTOR COST, PERFECT COMPETITION

Total factor cost per unit of factor input employed by a perfectly competitive firm in the production of output, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is generally equal to the factor price. However, using the longer term average factor cost makes it easier to see the connection to related terms, including total factor cost and marginal factor cost.

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Fact 5: Our Necessary Evil

It's time to give up our attempts to enter the Merciless Monolithic Media Masters Cable Television Company, Inc. office and take care of other pressing business -- taxes. The next stop on our excursion through the economy is the Shady Valley City Hall, where we need to momentarily, and begrudgingly, pause so that I may pay my semi-annual property tax bill. This is the least enjoyable stop -- at least for me -- on our journey. Grumble. Grumble. Grumble.

Of course I hate to pay taxes! But, then again, who doesn't? Taxes are one of those annoying and evil necessities of life that simply can't be avoided.

Or can they? Do we have to pay taxes? A quick visit to a bookstore will produce dozens of books telling you how to avoid taxes by investing here or buying this or doing that. Better yet, if we could rid ourselves of the inefficient, bloated, incompetent, do-nothing government, then you and I wouldn't have to pay taxes. Right? We could use our hard-earned income to buy stuff that we want, rather than letting the inefficient, bloated, incompetent, do-nothing government spend it on stuff that we don't want, don't know anything about, and will never need. Right?
Tell me more...

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APLS

Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune."

-- William James, Psychologist

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