March 18, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
OPEN ECONOMY: An economy with a great deal of foreign trade. At the extreme, a completely open economy is one that has no trade barriers. Most of the world's hundred-plus nations are relatively open, but much less than they could be because of a wide assortment of trade restrictions. The more an economy is open, the more dependent it is on happenings around the world.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson Contents
Unit 1: Selling Basics
  • The Concept
  • Supply Price
  • Quantity Supplied
  • Unit 1 Summary
  • Unit 2: Law of Supply
  • Definition
  • Production Cost
  • Unit 2 Summary
  • Unit 3: Supply 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
  • Limited Resources
  • Unit 5 Summary
  • Unit 6:
  • Unit 6 Summary
  • Course Home

    This supply lesson provides an introduction into selling a wide range of goods. In fact, this supply topic does more than offer insight into selling behavior. It's also the second half of the market analysis -- the first half being demand. And to reiterate what I noted during the demand lesson, market analysis is one of the most widely used tools in the study of economics that can be used to explain a lot of economic phenomenon. Of course to use markets, we need both demand and supply. And supply part is our current lesson.

    • The first unit of this lesson introduces the basic concept of supply and a few related terms such as supply price and quantity supplied.
    • In the second unit then we move into a discussion of the law of supply, which captures the basic relation between supply price and quantity supplied.
    • The third unit then develops the supply curve, which is the graphical embodiment of the supply concept.
    • Moving onto the fourth unit, we examine how the five basic supply determinants cause the supply curve to shift from one location to another.
    • And in the fifth and final unit, we make a connection between supply and the limited resources part of scarcity.

    BEGIN Lesson =>

    <=PREVIOUS Lesson | NEXT Lesson =>


    Taxes are the mandatory payments made by members of society to governments to finance government operations. The study of public finance identifies several key principles of taxation -- tax effects (revenue and allocation), tax proportionality (proportional, progressive, and regressive), tax payments (benefit and ability-to-pay), tax equity (horizontal and vertical).

    Complete Entry | Visit the WEB*pedia


    [What's This?]

    Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for letters from the Internal Revenue Service.
    Your Complete Scope

    This isn't me! What am I?

    The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
    "Good plans shape good decisions. That's why good planning helps to make elusive dreams come true."

    -- Lester Bittle, Author

    New York Interbank Bid Rate
    A PEDestrian's Guide
    Xtra Credit
    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

    | AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
    | About Us | Terms of Use | Privacy Statement |

    Thanks for visiting AmosWEB
    Copyright ©2000-2018 AmosWEB*LLC
    Send comments or questions to: WebMaster