Google
Wednesday 
December 19, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
KALDOR-HICKS IMPROVEMENT: Based on the Kaldor-Hicks efficiency criterion, the notion that an action improves efficiency if the willingness to pay of those benefiting exceed the willingness to accept of those harmed. In other words, if those gains exceed those losses, or the benefits exceed the costs, then social welfare is improved and undertaking the action provides a net benefit to society. In other words, the winners can, in principle, compensate the losers for their loss, and still come out ahead. The actual compensation, however, is required. A contrasting condition for attaining efficiency is the Pareto improvement.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 7: Market | Unit 5: The Method Page: 22 of 22

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

  • How efficient use of resources can automatically result from the self-correcting tendency of markets to achieve equilibrium.
  • The demand price on the demand curve as the value of goods produced by society.
  • The supply price on the supply curve as the value of goods not produced by society.
  • How too much or too little production generates inequality between the demand price and the supply price, and prevents efficiency.
  • How market imperfections, including the lack of competition and externalities, prevent efficiency.


Course Home | Lesson Menu | Page Back | Page Next

MARGINAL PROPENSITY TO SAVE

The proportion of each additional dollar of household income that is used for saving. The marginal propensity to save (abbreviated MPS) is another term for the slope of the saving line and is calculated as the change in saving divided by the change in income. The MPS plays a central role in Keynesian economics. It quantifies the saving-income relation, which is the flip side of the consumption-income relation, and thus it reflects the fundamental psychological law. It is also a critical to the multiplier process. A related saving measure is the average propensity to save.

Complete Entry | Visit the WEB*pedia


APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time at an auction wanting to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for rusty deck screws.
Your Complete Scope

This isn't me! What am I?

A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"How wonderful it is that nobody need wait a single moment before starting to improve the world. "

-- Anne Frank, diarist

AOQL
Average Outgoing Quality Limit
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