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August 9, 2022 

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WEIGHT: When applied to location theory, the relative attractive force of one activity to another based on transportation cost. The weight of an activity in this context is comparable to the weight of matter subject to gravitation forces. The weight of an activity is greater if it incurs higher transportation cost. As such, it is attracted, or pulled, to other activities to reduce transportation cost. With the weight (transportation cost) of an activity is often related to physical weight (heavier items cost more to move), it need not be. Other factors affecting weight include special handling (security, comfort) and type of transportation (walking, automobile, airplane).

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AVERAGE-COST PRICING: A regulatory policy used for public utilities (especially those that are natural monopolies) in which the price received by a firm is set equal to the average total cost of production. The great thing about average-cost pricing is that a regulated public utility is guaranteed a normal profit, usually termed a fair rate of return. One bad thing about average-cost pricing is that marginal cost is less than average total cost meaning that price is greater than marginal cost. As such, the public utility is NOT operating according to the price equals marginal cost (P = MC) rule of efficiency.

     See also | regulatory policy | public utility | natural monopoly | firm | price | average total cost | normal profit | efficiency | marginal-cost pricing |


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AVERAGE-COST PRICING, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: August 9, 2022].


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AUTONOMOUS NET EXPORTS

Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.

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Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for defective microphones.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth and his humanity. "

-- Peter Drucker, author

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