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FACTOR DEMAND CURVE: A graphical representation of the relationship between the price to a factor of production and quantity of the factor demanded, holding all ceteris paribus factor demand determinants constant. The factor demand curve is one half of the factor market. The other half is factor supply. The factor demand curve indicates the quantity of a factor that would be demanded at alternative factor prices. While all factors of production, or scarce resources, including labor, capital, land, and entrepreneurship, have factor demand curves, labor is the factor most often analyzed. Like other demand curves, the factor demand curve is negatively sloped. Higher factor prices are associated with smaller quantities demanded and lower factor prices go with larger quantities demanded.
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Lesson Contents
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Unit 1: Selling Basics |
Unit 2: Law of Supply |
Unit 3: Supply Curve |
Unit 4: Determinants |
Unit 5: Scarcity |
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Market Supply
This supply lesson provides an introduction, not only into Stuffed Amigo selling behavior, but into selling a wide range of other goods, even goods that aren't cute and cuddly. 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 for explaining a lot of economic phenomenon. Of course to use markets, we now need to consider supply. - The first unit of this lesson, Selling Basics, introduces the basic concept of supply and a few related terms such as supply price and quantity supplied.
- In the second unit, Law of Supply, we move into a discussion of the law of supply, which captures the basic relation between supply price and quantity supplied.
- The third unit, Supply Curve, then develops the supply curve, which is the graphical embodiment of the supply concept.
- Moving onto the fourth unit, Determinants, 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, Scarcity, we make a connection between supply and the limited resources part of scarcity.
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FEDERAL FUNDS MARKET A financial market used by commercial banks and other depository institutions regulated by the Federal Reserve System to lend and borrow Federal funds (Federal Reserve deposits). The interest rate charged for lending through the Federal funds market is the Federal funds rate.
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GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time at a garage sale looking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for vindictive digital clocks with revenge on their minds. Your Complete Scope
This isn't me! What am I?
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"The road to success is always under construction. " -- Lily Tomlin, Actress
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APT Arbitrage Pricing Theory
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