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APP: The abbreviation of average physical product, which is 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 physical product is actually just another name for average product (AP). But don't be confused by the extra term (physical).
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DEMAND INCREASE An increase in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a rightward shift of the demand curve. An increase in demand is caused by a change in a demand determinant and results in an increase in equilibrium quantity and an increase in equilibrium price. A demand increase is one of two demand shocks to the market. The other is a demand decrease.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at an auction wanting to buy either clothing for your pet dog or an ink cartridge for your printer. Be on the lookout for vindictive digital clocks with revenge on their minds.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"The vacuum created by failure to communicate will quickly be filled with rumor, misrepresentations, drivel and poison. " -- C. Northcote Parkinson, historian
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WPO
Weakly Pareto Optimal
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