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June 12, 2026 

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CAPITAL: One of the four basic categories of resources, or factors of production. It includes the manufactured (or previously produced) resources used to manufacture or produce other things. Common examples of capital are the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. Capital's primary role in the economy is to improve the productivity of labor as it transforms the natural resources of land into wants-and-needs-satisfying goods.

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TOTAL VARIABLE COST: Cost of production that changes with changes in the quantity of output produced by a firm in the short run. Total variable cost is one part of total cost. The other is total fixed cost. Variable cost depends on the level of output. If a firm produces more output, then variable cost is greater. If a firm produces no output, then variable cost is zero. A cost measure directly related to total variable cost is average variable cost.

     See also | total cost | variable input | quantity | total fixed cost | average variable cost |


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TOTAL VARIABLE COST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: June 12, 2026].


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MARKET

The organized exchange of commodities (goods, services, or resources) between buyers and sellers within a specific geographic area and during a given period of time. Markets are the exchange between buyers who want a good (the demand-side of the market) and the sellers who have it (the supply-side of the market).

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Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for small children selling products door-to-door.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
"Nothing will ever be attempted if all possible objections must first be overcome. "

-- Samuel Johnson, essayist, critic, lexicographer

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