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NET EARNINGS: A common term for profit, as the difference between total revenue and total cost. When used in the real world of business wheeling and dealing, this notion of net income generally refers to accounting profit rather than economic profit. The "net" aspect of net earnings indicates that some (that something being cost) is deducted from total or "gross" earnings. Other common terms used in this same context are net revenue and net income.
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Lesson 2: Economic Science | Unit 4: Science and Practice
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Page: 16 of 20
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- The hypothesis, theory, and verification process associated with a presumed relationship between course grades and class seating.
- Different ways that an hypothesis relating grades and class seating can be stated.
- The components of a possible 'intuitive' theory explaining grades and class seating.
- How a hypothesized relationship between grades and seating might be tested using real world data.
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MARGINAL BENEFIT OF SEARCH The incremental benefit generated by additional search effort is the marginal benefit of search. Marginal benefit of search, also termed marginal search benefit, is comparable to marginal revenue of short-run production analysis and marginal utility of consumer demand theory. Marginal benefit of search decreases with an increase in search effort and is represented by the marginal benefit of search curve. This is one half of the efficient information search decision. The other is marginal cost of search.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. " -- George Lucas
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SSAP
Statement of Standard Accounting Practice
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