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AGGREGATE SUPPLY DETERMINANTS: An assortment of ceteris paribus factors that affect both short-run aggregate supply and long-run aggregate supply, but which are assumed constant when the short-run and long-run aggregate supply curves are constructed. Changes in any of the aggregate supply determinants cause the short-run and long-run aggregate supply curves to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate supply curves to shift, it's usually most convenient to group them into three broad categories -- resource quantity, resource quality, and resource prices.

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VARIABLES

Quantities, usually represented as symbols, that can take on one of a set of values. A variable is "variable" because its value can "vary." A primary goal of economic analysis is to determine the specific value that a variable takes on under specific circumstances.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for small children selling products door-to-door.
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