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TOTAL PRODUCT: The total quantity of output produced by a firm for a given quantity of inputs. Total product is the foundation upon which the analysis of short-run production for a firm is analyzed. The usual framework is to analyze total product when in a variable input (labor) changes, for a given amount of a fixed input (capital). Two related concepts derived from total product are average product and marginal product.

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Lesson 2: Economic Science | Unit 4: Science and Practice Page: 16 of 20

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  • The hypothesis, theory, and verification process associated with a presumed relationship between course grades and class seating.
  • Different ways that an hypothesis relating grades and class seating can be stated.
  • The components of a possible 'intuitive' theory explaining grades and class seating.
  • How a hypothesized relationship between grades and seating might be tested using real world data.

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RENTAL INCOME OF PERSONS

The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring rent earned by the household sector for supplying land and related factor services. This is one of five official factor payments making up national income. The other four are compensation of employees, net interest, corporate profits, and proprietors' income. Rental income of persons is typically the smallest of the five factor payment categories, usually less than 5 percent of national income.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for cardboard boxes.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"Wherever you go, no matter what the weather, always bring your own sunshine."

-- Anthony J. D'Angelo

DRR
Discounted Rate of Return
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