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PI: The abbreviation for personal income, which is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. Personal income is one of three measures of income reported quarterly (every three months) in the National Income and Product Accounts maintained by the Bureau of Economic Analysis.
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AVERAGE FACTOR COST AND MARGINAL FACTOR COST A mathematical connection between average factor cost and marginal factor cost stating that the change in the average factor cost depends on a comparison between average factor cost and marginal factor cost. For perfect competition, with no market control, marginal factor cost is equal to average factor cost, and average factor cost does not change. For monopsony and other firms with market control, marginal factor cost is greater than average factor cost, and average factor cost rises.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for high interest rates.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth ‚ and his humanity. " -- Peter Drucker, author
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WPO
Weakly Pareto Optimal
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