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TC: The abbreviation for total cost, which is the opportunity cost incurred by all of the factors of production used by a firm to produce of a good or service, including wages paid to labor, rent paid for the land, interest paid to capital owners, and a normal profit paid to entrepreneurs. Total cost is most important in the analysis a firm's short-run production decision and is frequently separated into total variable cost and total fixed cost.
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INVESTMENT, PRODUCTION POSSIBILITIES: Investment typically refers to the purchase of productive capital by business in anticipation of increasing production and (presumably) generating more profit. More generally, investment can be considered as sacrificing the current satisfaction of wants and needs (consumption goods) to expand productive capability (capital goods). Production possibilities analysis can be used to illustrate the tradeoff between consumption and capital as a movement along a production possibilities curve. See also | economic growth, production possibilities | economic growth, sources | full employment, production possibilities | unemployment, production possibilities | derivation, production possibilities curve | slope, production possibilities curve | opportunity cost, production possibilities | law of increasing opportunity cost | investment | opportunity cost | scarcity | economic growth | production possibilities | production possibilities curve | assumptions, production possibilities | graphical analysis | limited resources | economic efficiency | efficiency | economic goals | seven economic rules | free lunch | three questions of allocation | four estates | government functions | political views | technology | investment expenditures | investment business cycles |
Recommended Citation:INVESTMENT, PRODUCTION POSSIBILITIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: December 8, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: investment, production possibilities
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TOTAL-MARGINAL RELATION A mathematical connection between a marginal value and the corresponding total value stating that the marginal IS the slope of the total curve. This mathematical relation between total and marginal surfaces throughout the study of economics, especially utility (total utility and marginal utility), production (total product and marginal product), cost (total cost and marginal cost), and revenue (total revenue and marginal revenue). A related mathematical relation exists between a marginal value and the corresponding average value.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for small children selling products door-to-door.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"If you don't know where you are going, any road will get you there." -- Lewis Carroll, writer
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NYBOR
New York Interbank Offered Rate
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