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KONDRATIEFF CYCLE: A cycle of economic activity lasting between 45 and 60 years that acquired the name of the first economist to study it, the Russian economist N. D. Kondratieff. The Kondratieff cycle is somewhat controversial and has been attributed to a number of different causes, including investment in transportation infrastructure. This is one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Kitchin cycle, Juglar cycle, and Kuznets cycle.
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TOTAL UTILITY CURVE A curve illustrating the relation between the total utility obtained from consuming a good and the quantity of the good consumed. The shape of the total utility curve, increasing at a decreasing rate, reflects the law of diminishing marginal utility. The reason for this is that slope of the total utility curve is marginal utility, meaning the total utility curve can be use to derive the marginal utility curve.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for door-to-door salesmen.
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More money is spent on gardening than on any other hobby.
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"Advice is like snow ‚ the softer it falls, the longer it dwells upon and the deeper it sinks into the mind. " -- Samuel Taylor Coleridge, poet
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NE
Nash Equilibrium
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