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RATIONAL ABSTENTION: The decision not to do something because the cost of doing it is more than the expected benefit. While this is a common part of everyday life, it's particularly important for voting. During a given election, a number of potential voters are likely to chose NOT to vote because they expect to get little or no benefit from doing so.

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MONEY: Anything that is generally accepted in exchange as payment for goods and services. The emphasis is on "any," because any item or asset can serve as money so long as it is generally accepted in payment throughout an economy. While the key function of money is acting as a medium of exchange, money also functions as a store of value, standard unit of account, and standard of deferred payment

     See also | currency | checkable deposits | money characteristics | money functions | barter | M1 | money supply | Federal Reserve System | money creation | bank | fractional-reserve banking | government functions | Federal Reserve note |


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AVERAGE PHYSICAL PRODUCT

The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average product, which more often goes by the shorter name average product (AP), is one of two measures derived from total physical product. The other is marginal physical product.

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APLS

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Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for small children selling products door-to-door.
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A half gallon milk jug holds about $50 in pennies.
"It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult. "

-- Seneca, statesman, dramatist, philosopher

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