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March 18, 2024 

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BUSINESS CYCLE MEASUREMENT: Three of the most noted and often used measures of business cycle activity are real gross domestic product (especially the growth rate), unemployment rate, and inflation rate. Another group of measures fall under the broad heading of economic indicators and include leading economic indicators, coincident economic indicators, and lagging economic indicators. Real sophisticated economic types also follow measures such as changes in business inventories, Producer Price Index, M2 money supply, durable goods order, and others.

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SWOT: A strategic approach to analyzing the internal attributes of an organization. SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. This is usually done after environmental scanning is performed. Strengths focuses on those components of the business that make it unique and strong. Weaknesses can be those parts that put the company at risk, either now or in the future. Opportunities are possible changes in laws, technology or other variables that create windows for future growth. Threats can encompass new competitors, new regulations, or other dangerous variables that must be addressed.

     See also | strategic planning | business strategies | marketing plan | business plan | environmental scanning |


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SWOT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 18, 2024].


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TOTAL REVENUE, MONOPOLY

The revenue received by a monopoly firm for the sale of its output. Total revenue is one two bits of information a monopoly firm needs to calculate economic profit, the other is total cost. In general, total revenue is price times quantity--the price received for selling a good times the quantity of the good sold at that price. For a monopoly firm, that charges different prices for different quantities, total revenue increases then decreases. Two other revenue measures directly related to total revenue are average revenue and marginal revenue. Total revenue is often depicted as a total revenue curve.

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Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for broken fingernail clippers.
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The average bank teller loses about $250 every year.
"Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires...courage."

-- Ralph Waldo Emerson

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