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AMERICAN STOCK EXCHANGE: One of three national stock markets in the United States (see National Association of Securities Dealers and New York Stock Exchange) that trade ownership shares in corporations. In terms of daily stock transactions and the number of stocks listed, the American Stock Exchange is the smallest of these three. However, it's composite index of stock prices -- AMEX is considered important enough to be flashed briefly on the nightly news.
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Lesson 13: The Firm | Unit 2: Objectives
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Page: 8 of 24
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Topic:
Profit And Maximization
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- The guiding principle that prompts business firms to do what business firms do is profit maximization:
- Profit maximization is the process of obtaining the highest possible level of profit through the production and sale of goods and services.
- The notion of profit.
- Profit is the difference between the total revenue a firm receives from producing and selling output and the total cost of producing that output.
- Profit is also known in many business circles by the terms net revenue, net income, and net earnings.
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MARGINAL PHYSICAL PRODUCT The change in the quantity of total physical product resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal physical product, usually abbreviated MPP, is found by dividing the change in total physical product by the change in the variable input. Marginal physical product, which more often goes by the name marginal product (MP), is one of two measures derived from total physical product. The other is average physical product.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping 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 letters from the Internal Revenue Service.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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TDR
Treasury Deposit Receipt
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