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RENEWABLE RESOURCE: A natural resource that can be increased by either automatically through the natural forces of the environment or through actions undertaken by people. The quantities of renewable resources and not fixed and thus the amounts available for use tomorrow can be increased. Efficient use of renewable resources requires a balance between the rate of use and the rate of renewal. It is possible to efficiently use renewable resources indefinitely. However, such resources can also be exhausted if the rate of use exceeds the rate of renewal. Common examples of renewable resources are plant life, animal life, clean air, and clean water.
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SALES MAXIMIZATION: The notion that business firms (especially those operating in the real world) are primarily motivated by the desire to achieve the greatest possible level of sales, rather than profit maximization. On a day-to-day basis, most real world firms probably do try to maximize sales rather than profit. For firms operating in relatively competitive markets, facing relative fixed prices, and relatively constant average cost, then increasing sales is bound to increase profits, too. Moreover, according to the notion of natural selection, even firms that seek to maximize sales, those that also maximize profit will remain in business. See also | firm objectives | profit maximization | utility maximization | natural selection |
Recommended Citation:SALES MAXIMIZATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 15, 2025].
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PERFECT COMPETITION, REVENUE DIVISION The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials seeking to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for crowded shopping malls.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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NBV
Net Book Value
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