From the reading above as well as other sources define all of the following at the level of a senior in a top University, and commit them to permanent memory: Capital, Capitalism, Money, Profit, Inflation/Deflation, Gross Domestic Product (GDP), Maximum Economic Potential of a Process, Fixed Costs, Variable Costs, Cost of Production (COP), Present Value (PV), Future Value in year i (FVi), Annual cost of capital, Capacity factor (CF), Payback Period(or payback time), Compound interest, Discount Factor, Rate of Return (RR), Levelized cost of energy (LCOE).

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Key Economic and Financial Concepts Capital Capital refers to resources used to produce goods and services It can be physical capital machinery buildings human capital skills knowledge or financial ca... View the full answer