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AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE: A scientific society whose main mission is to advance science and innovation throughout the world. The American Association for the Advancement of Science (AAAS for short) publishes one of the most respected scientific magazines called Science. The association and magazine have nearly 140,000 individual and institutional subscribers, plus 272 affiliated organizations in more than 130 countries, serving a total of 10 million individuals. The American Association for the Advancement of Science was founded in 1848 to represent all disciplines of science and to support scientific exchange and discussion of science and society issues.

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Lesson 14: Aggregate Supply | Unit 3: The Curves Page: 10 of 20

Topic: Market Supply <=PAGE BACK | PAGE NEXT=>

While the market supply curve and the short-run aggregate supply curve look similar, there are important differences.
  • The price and quantity for the short-run aggregate supply curve are the price level and real production, not the price and quantity of a specific good.
  • The positive slope of the short-run aggregate supply curve is based on rigid wages, tapping into frictional, and structural unemployment, and misperceptions about real wages. The slope of the market supply curve is based on increasing opportunity cost.
  • The short-run aggregate supply curve is not just the aggregation of all market supply curves in the economy.

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PARTNERSHIP

A business that is owned and operated by two or more people. The owners and the business are legally considered one and the same. As such, the owners receive any and all profit, incur any and all loss, and are responsible for any and all debts including those made by a partner. This creates what is termed unlimited liability. In that each partner is responsible for the actions of the others, partnerships tend to be relatively small, with only a handful of people involved. A partnership is one of the three basic forms of business organization. The other two are proprietorship and corporation. This form of business is common for professional-types, like lawyers, accountants, dentists, and physicians.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time at a flea market trying to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?

A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"You can't build a reputation on what you are going to do."

-- Henry Ford, automaker

ARCH
Autoregressive Conditional Heteroskedasticity
A PEDestrian's Guide
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