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FACTOR SUPPLY DETERMINANTS: An ceteris paribus factors held constant when the factor supply curve is constructed that cause the curve to shift when they change. Because factor supply differs greatly depending on the particular factor analyzed (labor, capital, land, and entrepreneurship), factor supply determinants also come from different sources. Several key determinants come from the five standard market supply determinants: (1) resource prices, (2) technology, (3) other prices, (4) sellers' expectations, and (5) number of sellers. However, because labor is people (who receive satisfaction from working) three additional determinants come from market demand: (1) income, (2) preferences, and (3) other prices. Last, but not least, is the mobility of resources, including both geographic and occupational mobility.
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RISK PREMIUM The difference between a guaranteed or certain income and a risky income that generate the same level of utility. Risk premium is the amount of income that a risk adverse person is willing to pay to avoid the risk. Alternatively, it is the amount of income that a risk loving person is willing to pay to engage in risk. For risk aversion, the risk premium is the amount a person would pay for insurance.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for infected paper cuts.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Few things help an individual more than to place responsibility upon them and to let them know that you trust them." -- Booker T. Washington
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AID
Agency for International Development
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