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February 9, 2023 

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LIFESTYLES: The opinions, activities, and interests that an individual expresses through his or her pattern of living. People tend to spend their time in certain ways and with certain types of people. These tendencies of interactions with others and utilization of time strongly affect many components of consumer behavior and subsequent decisions to purchase or not. Lifestyle patterns influence product needs, brand preferences, where people shop, and types of media that are effective to reach consumers.

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LAGGING ECONOMIC INDICATOR: One of seven economic statistics that tend to move up or down a few months after the expansions and contractions of the business cycle. These statistics paint a pretty clear picture of what the economy was doing a few months back. Lagging economic indicators lag the turning points of the aggregate economy by 3-12 months. After a contraction begins, lagging indicators decline 3 to 12 months later. And 3 to 12 months after a expansion begins, lagging indicators rise.

     See also | economic indicators | leading economic indicator | coincident economic indicator | interest rate | Consumer Price Index | personal income | unemployment | business inventories |


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LAGGING ECONOMIC INDICATOR, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: February 9, 2023].


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PERFECT COMPETITION, REVENUE DIVISION

The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for slightly overweight pizza delivery guys.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
"Do you want to be safe and good, or do you want to take a chance and be great?"

-- Jimmy Johnson, Football Coach

LRAS
Long Run Aggregate Supply
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