Google
Tuesday 
September 18, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
INPUT: The resources or factors of production used in the production of a firm's output. This term is most frequently associated with the analysis of short-run production, and is often modified by the terms fixed and variable, as in fixed input and variable input. In the short run, the quantity of a fixed input can not be changed, meaning it can not be used to expand output. In contrast, a variable input can be changed, making it THE means of expanding output in the short run.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 6: Supply | Unit 1: Selling Basics Page: 1 of 19

Topic: The Concept <=PAGE BACK | PAGE NEXT=>

The concept of supply parallels the concept of demand. It too is fundamental to the study of the market and economics. It is the second of the two sides of the market that we'll study.

A definition:

Supply is the willingness and ability to sell a range of quantities of a good at a range of prices, during a given time.

Like demand we have three points:

  • Willingness and ability.
  • Range of quantities and prices.
  • A given time period.

Course Home | Lesson Menu | Page Back | Page Next

SHUTDOWN RULE

A rule stating that a firm minimizes economic loss by producing no output in the short run if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is less than average total cost but greater than average variable cost).

Complete Entry | Visit the WEB*pedia


APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a cell phone case or a pair of designer sunglasses. Be on the lookout for poorly written technical manuals.
Your Complete Scope

This isn't me! What am I?

The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. "

-- Sir Francis Bacon, philosopher

OOB
Opening of Business
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