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12 Cards in this Set

  • Front
  • Back
  • 3rd side (hint)
Fixed imputs
Don't vary
Variable inputs
Can vary
Stock Option is
The right to buy stock at prespecified at a future date.
6 out 12 types of taxation are:
Federal
social security
medicare
local
Futa
Suta
state
sales tax
property
estate
tariff
excise

Economic Capital
"K"
machinery and equipment
Financial Capital
Money to buy L,N,K
2 Sources of Financial capital
1. Debt
2. Equity
1. loan and bonds
2. stock and % of ownership
Give 3 types of market failure
1. Pollution
2. Monopoly
3. Imperfect information
Explicit costs is
Actual spending of $money$
Implicit costs is
Opportunity costs
Economic Profit
TR - TC - implicit costs
Accounting Profit
TR - TC