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SMALL BUSINESS: The businesses in our economy that individually produce very little output, have little or no market control, but collectively produce about half of our total production. Most small business owners may aspire to the ranks of the second estate, but they're card-carrying members of the third.
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TOTAL PRODUCT The total quantity of output produced by a firm for a given quantity of inputs. Total product is the foundation upon which the analysis of short-run production for a firm is based. The usual framework is to analyze total product when a variable input (labor) changes, while a fixed input (capital) does not change. Two related concepts derived from total product are average product and marginal product.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"I learned about the strength you can get from a close family life. I learned to keep going, even in bad times. I learned not to despair, even when my world was falling apart. I learned that there are no free lunches. And I learned the value of hard work. " -- Lee Iacocca
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BAE
Bureau of Agricultural Economics
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