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CAPITAL GOOD: A good that is a manufactured (or previously produced) factor of production that is used to manufacture or produce other things. Common examples of capital goods re the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. The acquisition of capital goods is the primary goal of business investment.

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MULTILATERAL: An action, often used in terms of an international trade agreement, that's extended to more than two parties. As such, a multilateral trade agreement is between several countries. For example, the United States might enter into a multilateral agreement with every country in North and South America that reduces trade barriers on the exports and imports of food products. The General Agreement on Tariffs and Trade is one of the more well known examples of a multilateral trade agreement.

     See also | foreign trade | trade barriers | export | import | General Agreement on Tariffs and Trade | bilateral | most-favored nation | unilateral |


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MARGINAL REVENUE, MONOPOLY

The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopoly receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopoly equates marginal revenue and marginal cost.

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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for slow moving vehicles with darkened windows.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
"A pint of sweat saves a gallon of blood. "

-- General George Patton

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