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TOTAL COST CURVES: The total cost of producing a good can be represented by three related curves, total cost curve, total variable cost curve, and total fixed cost curve. The total cost curve is the vertical summation of the total variable cost curve and the total fixed cost curve.

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FOUR ESTATES

A division of society based on the economic functions of consumption, production, regulation, and information that includes governments as the first estate, businesses as the second estate, consumers as the third estate, and journalists as the fourth estate.

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GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a wall poster commemorating the first day of winter or blue cotton balls. Be on the lookout for rusty deck screws.
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This isn't me! What am I?

Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"After climbing a great hill, one finds many more hills to climb. "

-- Nelson Mandela, president of South Africa

R&D
Research and Development
A PEDestrian's Guide
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