|
|
WELFARE ECONOMICS: A branch of economics that studies efficiency and the overall well-being of society based on alternative allocations of scarce resources. Welfare economics extends the microeconomic analysis of indifference curves to society as a whole. It is concerned with broad efficiency questions and criteria (Pareto efficiency and Kaldor-Hicks efficiency) as well as more specific efficiency issues (market failures, externalities, public goods).
Visit the GLOSS*arama
|
|
|
|
|
CAPITAL STOCK, AGGREGATE SUPPLY DETERMINANT One of several specific aggregate supply determinants assumed constant when the aggregate supply curves (both long run and short run) are constructed, and which shifts the aggregate supply curves when it changes. An increase in the capital stock causes an increase (rightward shift) of both aggregate supply curves. A decrease in the capital stock causes a decrease (leftward shift) of both aggregate supply curves. Other notable aggregate supply determinants include the technology, energy prices, and the wages. Capital stock comes under the resource quantity aggregate supply determinant.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for telephone calls from long-lost relatives.
Your Complete Scope
This isn't me! What am I?
|
|
|
A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
|
|
|
"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
|
|
FASB
Financial Accounting Standards Board
|
|
|
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
|
|
