Examlex
Look at the following data: personal income = $4,900 billion; personal taxes = $900 billion; transfer payments = $980 billion.What is disposable income?
Cost Minimization
The process of reducing expenses to the lowest possible level while still achieving the desired level of output or quality.
Normal Rate Of Return
A rate of return on capital that is just sufficient to keep owners and investors satisfied. For relatively risk-free firms, it should be nearly the same as the interest rate on risk-free government bonds.
Economic Loss
A situation where the cost of making a product is greater than the revenue gained from selling it, resulting in a negative economic outcome.
Normal Rate Of Return
The average expected or required return on an investment or project, reflecting the usual profit level for the market or industry.
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