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January 20, 2018 

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AFRICAN DEVELOPMENT BANK: A regional multilateral development institution engaged in promoting the economic development and social progress of its member countries in Africa. The Bank, established in 1964, started functioning in 1966 with its Headquarters in Abidjan, Cote d' lvoire. The Bank borrows funds from the international money and capital markets. Its shareholders are the 53 countries in Africa as well as 24 countries in the Americas, Europe, and Asia.

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CONSUMER CONFIDENCE: In general, this is the notion of how much confidence that consumers (the public) have in the present and future performance of the economy. Consumer confidence is a key determinant of the aggregate demand curve and the source of business-cycle instability. A sudden drop in consumer confidence can trigger a contraction, while overly optimistic consumers can keep an economy expanding, even though it shouldn't. Consumer confidence is generally measured by periodic surveys which ask consumers about their degree of confidence in the economy.

     See also | business cycle | contraction | expansion | leading economic indicator | consumers | consumption expenditures |


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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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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a flower arrangement with daisies and carnations for your uncle or a coffee cup commemorating next Thursday. Be on the lookout for jovial bank tellers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"Act well at the moment, and you have performed a good action for all eternity."

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