There are 90 entries in the GLOSS*arama starting with the letter L.

Entries 1 through 35:

• L
• labor
• labor agreement
• labor force
• labor force participation rate
• labor-leisure tradeoff
• Labor-Management Relations Act
• labor market
• labor slowdown
• labor union
• labor union movement
• Laffer curve
• lagging economic indicator
• laissez faire
• land
• law
• law of comparative advantage
• law of demand
• law of diminishing marginal returns
• law of diminishing marginal utility
• law of increasing opportunity cost
• law of supply
• leading economic indicator
• leakage
• leakage line
• learning
• legal claim
• legal claims
• legal forces
• legal reserves
• legal types
• leisure
• Lerner index
• leverage
• leveraged buyout

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A perfectly competitive firm produces the profit-maximizing quantity of output that generates the highest level of profit. This profit approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve a comparison of total revenue and total cost or a comparison of marginal revenue and marginal cost.

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The first stop for any pedestrian on a leisurely stroll through the busy economic streets of Shady Valley is Scarcity Stan's Ye Olde Bakery Shoppe and Confectionery Palace. The most noted pastry on Scarcity Stan's list of delectables, wedged between his mouth-watering apple danishes and scrumptious jelly donuts, is economic pie. My mouth waters with the thought.

Economic pie isn't like other donuts, cakes, and confectioneries with their gobs of sweetness, but very little nutritional sustenance. In fact, given that it refers to the sum total of the economy's resources and productive activity, economic pie is filled to the brim with sustenance. Unfortunately, Scarcity Stan and the congregation of people we call society, has only one economic pie, and while it's pretty large, it's never quite as big as we would like.
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Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a rechargeable battery for your cell phone or a T-shirt commemorating the 2000 Olympics. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?

-- William James, Psychologist

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