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September 23, 2018 

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K: The standard abbreviation for the quantity of capital goods, especially for the analysis of production. The letter "K" is used even though capital begins with a "C" because "C" is commonly used to represent consumption. The complementary representations for other inputs are "L" for labor and "N" for population.

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8-FIRM CONCENTRATION RATIO: The proportion of total output in an industry that's produced by the eight largest firms in the industry. This is one of two common concentration ratios. The other is the four-firm concentration ratio. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and how market control is held by the eight largest firms in the industry.

     See also | concentration ratio | 4-firm concentration ratio | market share | market control | oligopoly | monopolistic competition |


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LONG-RUN AGGREGATE SUPPLY

The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. Long-run aggregate supply, commonly abbreviated LRAS, is one of two aggregate supply alternatives, distinguished by the degree of price flexibility. The other is short-run aggregate supply. Long-run aggregate supply is combined with aggregate demand, and often short-run aggregate supply, in the long-run aggregate market (or AS-AD) analysis used to analyze economic growth, business-cycle instability, unemployment, inflation, government stabilization policies, and related macroeconomic topics.

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APLS

BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for fairy dust that tastes like salt.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. "

-- George Allen, U.S. senator

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