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NORTH AMERICAN FREE TRADE AGREEMENT: A economic, international trade treaty between the three nations that occupy the North American continent -- Canada, Mexico, and the United States -- that was launch in 1994. The North American Free Trade Agreement, commonly termed NAFTA, is designed to eliminate assorted trade barriers between Canada, Mexico, and the United States, including the reduction or elimination of many tariffs and nontariff barriers. While economic theory clearly indicates efficiency is enhanced by the reduction and elimination trade restrictions, NAFTA has been strongly opposed by those potentially harmed by more efficient trade, especially labor unions. However, NAFTA is merely one of several international trade agreements created over the years to reduce trade restrictions. Others include the General Agreement on Tariffs and Trade and the Maastricht Treaty.

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AVERAGE REVENUE, MONOPOLY

The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopoly average revenue is greater than marginal revenue. Average revenue for a monopoly is often depicted by a negatively-sloped average revenue curve.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"An idea is never given to you without you being given the power to make it reality."

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