Google
Wednesday 
December 12, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
RESOURCE PRICE, AGGREGATE SUPPLY DETERMINANT: One of three categories of aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and which shifts the aggregate supply curve when it changes. An increase in a resource price causes a decrease (leftward shift) of the short-run aggregate supply curve. A decrease in a resource price causes an increase (rightward shift) of the short-run aggregate supply curve. The other two categories of aggregate supply determinants are resource quantity and resource quality. Specific determinants falling into this general category include wages and energy prices. Anything affecting the prices paid for the use of labor, capital, land, and entrepreneurship is also included.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 14: Aggregate Supply | Unit 4: Determinants Page: 12 of 20

Topic: Stability <=PAGE BACK | PAGE NEXT=>

The shifts in the aggregate supply curves are usually small, steady, and readily expected.
  • The supply-side of the aggregate market is usually the perfect picture of stability.
  • Most of economy's instability result from instability on the demand side of the aggregate market.
  • Shifts of the aggregate supply curve are due to ceteris paribus determinants.
  • The supply determinants are things, other than the price level, that affect aggregate supply.
Both, short-run aggregate supply and long-run aggregate supply curves, can increase or decrease.

In both, long run and shot run:

  • An increase shifts the aggregate supply curve to right.
  • It means that producers are willing and able to offer more real production for sale at any and all price levels.
  • A decrease shifts the aggregate supply curve to left.
  • It means that producers are willing and able to offer less real production for sale at any and all price levels.

Course Home | Lesson Menu | Page Back | Page Next

GAINS FROM TRADE

The combination of consumer surplus and producer surplus obtained by buyers and sellers when engaging in a market exchange. Gains from trade arise because buyers are typically willing and able to pay a higher price to purchase a good than what they end up paying and because sellers are typically willing and able to accept a lower price to sell a good than what they end up receiving. Both sides of the market exchange are thus better off, have a net gain in welfare, by making the trade. While all types of market exchanges generate gains from trade, this topic is perhaps most important for an understanding of international trade.

Complete Entry | Visit the WEB*pedia


APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for door-to-door salesmen.
Your Complete Scope

This isn't me! What am I?

It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
"Defeat is simply a signal to press onward."

-- Helen Keller, lecturer, author

ACV
Actual Cash Value
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