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LONG-RUN ADJUSTMENT, PERFECT COMPETITION: The combined adjustment of a perfectly competitive industry and of each firm in the industry to an equilibrium condition that eliminates all economic profits and losses, while each firm selects a factor size that maximizes profit. This adjustment process involves two parts. One is the adjustment of each perfectly competitive firm to the appropriate factory size that maximizes long-run profit. The other is the entry of firms into the industry or exit of firms out of the industry, to eliminated economic profits or economic losses. The end result of this long-run adjustment is a multi-faceted equilibrium condition: P = AR = MR = MC = LRMC = ATC = LRAC
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PLASTIC MONEY: A slang phrase for credit cards, especially when such cards used to make purchases. The "plastic" portion of this term refers to the plastic construction of credit cards, as opposed to paper and metal of currency. The "money" portion is an erroneous reference to credit cards as a form of money, which they are not. Although credit cards do facilitate transactions, because they are a liability rather than an asset, they are not money and not part of the economy's money supply. See also | monetary aggregates | M1 | M2 | M3 | L | currency | checkable deposits | near monies | Federal Reserve notes | seigniorage | money | money functions | money characteristics | fiat money | commodity money | medium of exchange | store of value | liquidity | money creation | fractional-reserve banking | banking | Federal Reserve System | monetary economics | monetary base | monetary policy | debit card | monetary economics |
Recommended Citation:PLASTIC MONEY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: March 12, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: plastic money
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AVERAGE REVENUE The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. Using the longer term average revenue rather than price provides a connection to other related terms, especially total revenue and marginal revenue. When compared with average cost, average revenue indicates the amount of profit generated per unit of output produced. Average revenue is often depicted by an average revenue curve.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for broken fingernail clippers.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Expect people to be better than they are; it helps them to become better. But don't be disappointed when they're not; it helps them to keep trying." -- Merry Browne, Author
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AASB
American Assocation of Small Business
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