Google
Monday 
October 15, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
ZERO-SUM GAME: A situation in which a fixed amount is divided up among the winners and losers. In a zero-sum game the wins equal the losses. Many stock market, or financial market, exchanges are zero-sum. One person buys low and sells high, while another buys high and sells low. The wealth in such transactions are merely transferred from one person to another. "Productive" market transactions, in contrast, are not zero-sum. The act of producing goods and services from resources that are consumed to satisfy wants and needs results in a net gain to society.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

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

Topic: Quantity of Resources <=PAGE BACK | PAGE NEXT=>

A change in the quantity of labor, capital, land, or entrepreneurship will alter full employment real production and shift the long-run aggregate supply curve.
  • Changes in resource quantities tend to be steady and predictable.
  • Labor can change for three reasons:
    • Natural growth of population.
    • Migration.
    • The labor force participation rate.
  • Capital changes from depreciation of capital and investment in capital.
  • Land changes from exploration and discovery of natural resources.
  • Entrepreneurship, while difficult to measure, increases when more people assume the risk of production.

Course Home | Lesson Menu | Page Back | Page Next

PROPERTY RIGHTS

The legal ownership of resources, which entitles the owners to receive the benefits or pay the costs associated with productive activities of the resources. Property rights can be owned individually (to the exclusion of others) or jointly by several members of society. The institution of private property is a form of property rights essential to capitalism.

Complete Entry | Visit the WEB*pedia


APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time at a garage sale looking to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for attractive cable television service repair people.
Your Complete Scope

This isn't me! What am I?

Al Capone's business card said he was a used furniture dealer.
"Give the American people a good cause, and there's nothing they can't lick. "

-- John Wayne, actor

AV
Actual 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