Google
Wednesday 
December 12, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
OLIGOPOLY, CONCENTRATION: Oligopoly is a market structure that contains a small number of relatively large firms, meaning oligopoly markets tend to be concentrated. A small number of large firms account for a majority of total output. Concentration unto itself is not necessarily bad, but it often leads to inefficient behavior, such as collusion and nonprice competition. Concentration is measured in three ways--market share, concentration ratio, Herfindahl index.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 6: Supply | Unit 1: Selling Basics Page: 4 of 19

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

  • Supply as the range of prices and quantities that sellers are willing and able to sell at different prices.
  • Why sellers must be both willing and able to sell a good to have a supply. While willingness can influence some supply, ability, which is based on production cost, is more important.
  • Why supply includes a range of prices and quantities, not just a specific quantity.
  • Why supply is analyzed during a given time period.
  • That supply price as the minimum price sellers would be willing and able to accept for a given quantity.
  • That quantity supplied is the specific quantity sellers would be willing and able to sell at a specific price.


Course Home | Lesson Menu | Page Back | Page Next

ASSUMPTIONS, CLASSICAL ECONOMICS

Classical economics, especially as directed toward macroeconomics, relies on three key assumptions--flexible prices, Say's law, and saving-investment equality. Flexible prices ensure that markets adjust to equilibrium and eliminate shortages and surpluses. Say's law states that supply creates its own demand and means that enough income is generated by production to purchase the resulting production. The saving-investment equality ensures that any income leaked from consumption into saving is replaced by an equal amount of investment. Although of questionable realism, these three assumptions imply that the economy would operate at full employment.

Complete Entry | Visit the WEB*pedia


APLS

GRAY SKITTERY
[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 printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for gnomes hiding in cypress trees.
Your Complete Scope

This isn't me! What am I?

Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"Defeat is simply a signal to press onward."

-- Helen Keller, lecturer, author

NEDC
National Economic Development Council
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