March 17, 2018 

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KEYNESIAN CROSS: The standard diagram used in Keynesian economics to identify the equilibrium level of aggregate output (that is, gross domestic product), with aggregate expenditures measured on the vertical axis, and aggregate output measured on the horizontal axis. This diagram contains two key lines, the aggregate expenditure line and the 45-degree line. Intersection between these lines indicates equilibrium aggregate output. This intersection, or cross, is what gives rise to the name.

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PROFIT MAXIMIZATION: The process of obtaining the highest possible level of profit through the production and sale of goods and services. The profit-maximization assumption is the guiding principle underlying short-run production by a firm. In particular, it is assumed that firms undertake actions and make the decisions that increase profit. The profit-maximization assumption is the production counterpart to the utility-maximization assumption for consumer behavior.

     See also | profit | total revenue | total cost | firm | production | short-run production | utility maximization | perfect competition | monopoly | monopolistic competition | oligopoly |

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The consumption of hunger-satisfying food products during the middle of the day, usually around the noon hour, the acquisition of which requires no payment by the consumer and presumably imposes no opportunity cost on society. The food is lunch, the acquisition is free, hence free lunch.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a case of blank recordable DVDs or a pair of red goulashes with shiny buckles. Be on the lookout for infected paper cuts.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"If football taught me anything about business, it is that you win the game one play at a time."

-- Fran Tarkenton, Football Player

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