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GROWTH: The process of increasing the economy's ability to produce goods. Growth is also one of the three macroeconomic goals of an economy (full employment and stability are the other two). Growth is usually measured by increases in gross domestic product or per capita gross domestic product. The main sources of growth are increases in the quantity and quality of the resources. And the primary way of achieving these increases goes by the term investment.
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MARGINAL REVENUE PRODUCT The change in total revenue resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal revenue product, usually abbreviated MRP, is found by dividing the change in total revenue by the change in the variable input or by multiplying marginal physical product by marginal revenue. This is also termed value of the marginal product. Marginal revenue product is a key concept for understanding the demand for productive inputs.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for strangers with large satchels of used undergarments.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Most human beings have an almost infinite capacity for taking things for granted. " -- Aldous Huxley, writer
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APC
Average Propensity to Consume
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