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JOB: Specific employment activities associated with a production process that are usually undertaken by a single worker. For example, someone might have the job of serving food or repairing cars. Others might have the job of teaching economics. The word "job" is the primary designation applied to a worker when hired by an employer. It is commonly used as a modifier for other terms, such as job satisfaction or job security, as reference to specific aspects of working or employment.
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MARGINAL COST The change in total cost (or total variable cost) resulting from a change in the quantity of output produced by a firm in the short run. Marginal cost (MC) indicates how much total cost changes for a given change in the quantity of output. Because changes in total cost are matched by changes in total variable cost in the short run (total fixed cost is fixed), marginal cost is the change in either total cost or total variable cost. It is found by dividing the change in total cost (or total variable cost) by the change in output. Marginal cost is one of four cost concepts used in short-run production analysis. The other three are average total cost, average fixed cost, and average variable cost.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"The truth of the matter is that you always know the right thing to do. The hard part is doing it." -- Norman Schwarzkopf, US Army general
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MPI
Marginal Propensity to Invest
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