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June 14, 2025 

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CAPITAL DEPRECIATION: The wearing out, breaking down, or technological obsolescence of physical capital that results from use in the production of goods and services. To paraphrase an old saying, "You can't make a car without breaking a few socket wrenches." In other words, when capital is used over and over again to produce goods and services, it wears down from such use.

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AUTONOMOUS CONSUMPTION: Household consumption expenditures that are unrelated to income or production (especially disposable, national income, or gross national product). These are consumption expenditures that would occur even if household disposable income was zero. Autonomous consumption is graphically depicted as the vertical intercept of the consumption or propensity-to-consume line. Autonomous saving is the equal to the negative value of autonomous consumption. Changes in autonomous consumption, along with changes in other autonomous expenditures, are what trigger the multiplier effect.

     See also | consumption expenditures | disposable income | gross domestic product | consumption line | autonomous saving | autonomous expenditure | multiplier | induced consumption |


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AUTONOMOUS CONSUMPTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 14, 2025].


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MARGINAL REVENUE PRODUCT CURVE

A curve that graphically illustrates the relation between marginal revenue product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in total revenue for incremental changes in the variable input. The marginal revenue product curve plays a key role in marginal productivity theory and the economic analysis of factor markets.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for broken fingernail clippers.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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