Google
Tuesday 
June 28, 2022 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
SAVINGS ACCOUNTS: Accounts maintained by banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money. These accounts, also termed transactions deposits, let customers set aside a portion of their liquid assets that COULD be used to make purchases. But to make those purchases, savings account balances must be transferred to checkable deposits or currency. However, this transference is easy enough that savings accounts are often termed near money. Savings accounts, as such constitute a sizeable portion of the M2 monetary aggregate.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 12: Elasticity and Demand | Unit 4: Determinants Page: 18 of 25

Topic: Substitute Availability <=PAGE BACK | PAGE NEXT=>

  • Elasticity, especially the price elasticity of demand, is affected by three determinants:

  • Elasticity determinants are three ceteris paribus factors -- include substitute availability, time period, and budget proportion -- that are held constant when calculating elasticity and that result in a different value of the coefficient of elasticity when they change.
  • The most important elasticity determinant is substitute availability.

  • Substitute availability makes it possible to switch from one good to another in response to price changes.


Course Home | Lesson Menu | Page Back | Page Next

FALLACY OF DIVISION

The logical fallacy of arguing that what is true for the whole is also true for the parts. In the study of economics, this takes the form of assuming that what works for the aggregate, or macroeconomy, also works for parts of the economy, such as households or businesses. The contrasting fallacy is the fallacy of composition.

Complete Entry | Visit the WEB*pedia


APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for slow moving vehicles with darkened windows.
Your Complete Scope

This isn't me! What am I?

Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
"I do not believe in a fate that will fall on us no matter what we do. I do believe in a fate that will fall on us if we do nothing. "

-- Ronald Reagan, 40th US president

CPI
Consumer Price Index
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 ©2000-2022 AmosWEB*LLC
Send comments or questions to: WebMaster