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ZERO SLOPE: A horizontal line in which the numerical value of the slope, calculated as the change in the variable on the vertical axis divided by a change in the variable on the horizontal axis, is zero. In other words, the Y-axis variable is fixed, or constant, for any and all values of the X-axis variable.
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AVERAGE FACTOR COST, PERFECT COMPETITION Total factor cost per unit of factor input employed by a perfectly competitive firm in the production of output, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is generally equal to the factor price. However, using the longer term average factor cost makes it easier to see the connection to related terms, including total factor cost and marginal factor cost.
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The Wide, Wide World Of FOREIGN TRADETwo blocks directly south of the Mega-Mart Discount Emporium we'll find that Natural Ned's Nursery and Garden Center is having a grand opening celebration. I'd like to saunter over to check out their sundials -- a valuable, and long sought after acquisition for my backyard garden. In fact, Natural Ned's Nursery and Garden Center has a new shipment of sundials imported from the sundial capital of the world -- the Republic of Northwest Queoldiola. If I'm going to get a sundial, I should get the best, right? Northwest Queoldiola produces the finest, least expensive, and most technologically advanced sundials in the world. However, Mega-Mart Discount Warehouse Super Center has an ample supply of good old American-made sundials. They're a little more expensive and not quite as good, but they're made in the U. S. of A. by good old Americans. What a dilemma!
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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 looking to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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SRO
Self-regulatory Organizations
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