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January 16, 2019 

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PERCEPTION: How a person interprets the sensual inputs received through seeing, hearing, smelling, tasting, and touching. This process requires the individual to select, organize, and decode the various stimuli surrounding him/her in the environment. The important thing is not what is said by the talker, but what is heard by the listener. This process is critical to understanding consumer buying behavior.

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FULL EMPLOYMENT, PRODUCTION POSSIBILITIES: Full employment is the condition that exists when all available resources are engaged in the production of goods and services. In other words, all resources that could be used for production are being used. No resources are idle. All resources are producing goods. If you haven't examined the entry on full employment, now would be a good time.

     See also | full employment | production possibilities | resources | production | goods | services |


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FULL EMPLOYMENT, PRODUCTION POSSIBILITIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: January 16, 2019].


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TOTAL REVENUE CURVE

A curve that graphically represents the relation between the total revenue received by a firm for selling its output and the quantity of output sold. It is combined with a firm's total cost curve to determine economic profit and the profit maximizing level of production. The slope of the total revenue curve is marginal revenue. The total revenue curve for a firm with no market control is a straight line. The total revenue curve for a firm with market control is "hump-shaped."

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Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for letters from the Internal Revenue Service.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
"Good humor is a tonic for mind and body. It is the best antidote for anxiety and depression. It is a business asset. It attracts and keeps friends. It lightens human burdens. It is the direct route to serenity and contentment."

-- Grenville Kleiser, Author

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