|
|
WIDGET: A fictitious good commonly used by economic instructors to demonstrate economic principles or undertake hypothetical analyses. For example, the analysis of short-run production for a firm might be demonstrated through the production of widgets. Alternatively, the law of demand might be illustrated with a table or curve comparing the price of widgets with the quantity demanded of widgets. If such a good exists, and there is no clear evidence that widgets have every existed, it is a small mechanical device, constructed of interlocking cogs, several knobs, and at least one handle. Widgets are most often used when thingamajigs and dohickies are unavailable.
Visit the GLOSS*arama
|
|
|
|
|
SECOND-DEGREE PRICE DISCRIMINATION A form of price discrimination in which a seller charges different prices for different quantities of a good. This also goes by the name block pricing. Second-degree price discrimination is possible because decidedly different quantities are purchased by different types of buyers with different demand elasticities. This is one of three price discrimination degrees. The others are first-degree price discrimination and third-degree price discrimination.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
Your Complete Scope
This isn't me! What am I?
|
|
|
Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
|
|
|
"A people that values its privileges above its principles soon loses both. " -- Dwight Eisenhower, 34th US president
|
|
GMM
Generalized Method of Moments
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
