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AMORTIZATION: The process of paying off a debt liability and accrued interest through a series of equal, periodic payments. Car loans and mortgages are two debts commonly paid off through amortization. Your monthly car payment, for example, partially pays for interest accrued on the outstanding balance and partly reduces that balance. Because one payment reduces the outstanding balance, each subsequent payment has a smaller portion for interest. If the proper amortization schedule has been calculated, your loan will be paid off with the last payment.
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Lesson 12: Elasticity and Demand | Unit 4: Determinants
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Page: 21 of 25
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In this unit, you should have learned about:- Substitute availability as the key elasticity determinant that affects the value of the coefficient of elasticity.
- Why goods with more close substitutes tend to be more elastic and goods with fewer closer substitutes tend to be inelastic.
- Why elasticity is greater for longer time periods because buyers have more time to find available substitutes.
- Why elasticity is greater for goods that constitute a larger proportion of buyers' budgets and smaller for goods that make up a smaller proportion of buyers' budgets.
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SLOPE, AGGREGATE DEMAND CURVE The negative slope of aggregate demand curve, reflecting the inverse relation between the price level and aggregate expenditures on real production, is attributable to three primary effects--real-balance effect, interest-rate effect, and net-export effect.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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ADV PMT
Advance Payment
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