March 17, 2018 

AmosWEB means Economics with a Touch of Whimsy!

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X: The standard abbreviation for exports produced by the foreign sector and purchased by the domestic economy, especially when used in the study of macroeconomics. This abbreviation is most often seen in the aggregate expenditure equation, AE = C + I + G + (X - M), where C, I, G, and (X - M) represent expenditures by the four macroeconomic sectors, household, business, government, and foreign. The United States, for example, sells a lot of the stuff produced within our boundaries to other countries, including wheat, beef, cars, furniture, and, well, almost every variety of product you care to name.

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Lesson Contents
Unit 1: Buying Basics
  • The Concept
  • Demand Price
  • Quantity Demanded
  • Unit 1 Summary
  • Unit 2: Law of Demand
  • Definition
  • Income Effect
  • Substitution Effect
  • Unit 2 Summary
  • Unit 3: Demand Curve
  • Schedule
  • Curve
  • Space
  • Unit 3 Summary
  • Unit 4: Determinants
  • Ceteris Paribus Factors
  • Shifters: Increase
  • Shifters: Decrease
  • Types
  • Ch...Ch...Changes
  • Unit 4 Summary
  • Unit 5: Scarcity
  • Unlimited Wants
  • Unit 5 Summary
  • Course Home
    Market Demand

    This lesson on demand offers a little insight, not only into my Stuffed Amigo buying behavior, but into the purchases of a wide range of other goods, too, even goods that aren't cute and cuddly. In fact, this demand topic does more than offer insight into buying behavior. It's also one half of the market analysis -- the other half being supply. And market analysis is one of the most widely used tools in the study of economics. Economists explain a lot of economic phenomenon using markets. But to use markets, we need demand, which brings us back to this lesson.

    • In the first unit of this lesson, Buying Basics, we examine the basic concept of demand. While you've likely come across the term demand before, we'll see the specific way the term is used in economics.
    • The second unit, Law of Demand, then takes a look at the law of demand, which is one of the most important and fundamental economic principles that we'll encounter.
    • As we move on to the third unit, Demand Curve, our attention turns to the demand curve, which is the graphical embodiment of demand.
    • In the fourth unit, Determinants, we examine how the five basic demand determinants that cause the demand curve to shift from one location to another.
    • And finally in the fifth unit, Scarcity, we make a connection between demand and the fundamental problem of scarcity.

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    The study of the role that information plays in the economy and in the allocation of resources, with special attention paid to efficient information search. Key topics in this area of study and analysis are asymmetric information, moral hazard, adverse selection, signalling, and screening. This study of the economics of information also provides insight into the analysis of risk and uncertainty, which are important to insurance and financial markets.

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    [What's This?]

    Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for poorly written technical manuals.
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