|
|
SHORTAGE: A condition in the market in which the quantity demanded is greater than the quantity supplied at the existing price. A shortage occasionally goes by the terms excess demand and sellers' market. A shortage causes an increase in the equilibrium price.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 13: The Firm | Unit 3: Legal Types
|
Page: 13 of 24
|
- A proprietorship:.
- A proprietorship is a firm owned and operated by a single person. The proprietor/owner often provides a sizeable share of the resources, especially labor and capital.
- Let's consider some of the pros and cons of a proprietorship:
- Advantages: On the plus side of the ledger account, the owner of a proprietorship is TOTALLY in charge. The owner decides what to do, how to do, and more often than not actually does the work.
- Disadvantages: The primary entry on the negative side of the ledger account is unlimited liability.
|
|
|
|
|
|
|
ACCOUNTING COST An actual outlay or expenses incurred in the production of a good that shows up in a firm's accounting statements and records. Accounting cost is an explicit payment (that is, money changing hands) incurred by a firm. Accounting cost, while very important to accountants, company CEOs, shareholders, and the Internal Revenue Service, is only minimally important to economists. The reason is that economists are more interested in economic cost (also called opportunity cost), which is the value of foregone production.
Complete Entry | Visit the WEB*pedia |
|
|
WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope
This isn't me! What am I?
|
|
|
In the early 1900s around 300 automobile companies operated in the United States.
|
|
|
"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
|
|
AS-AD
Aggregate Supply-Aggregate Demand Model
|
|
|
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
|
|
