Google
Tuesday 
April 16, 2024 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
AD-AS MODEL: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 14: Production | Unit 1: Short-Run Production Page: 2 of 25

Topic: Two Inputs: Fixed And Variable <=PAGE BACK | PAGE NEXT=>

  • Two different types of inputs -- fixed and variable.

  • A fixed input is an input used in the production of goods and services that does not change in the time period of the analysis.
  • A variable input is an input used in the production of goods and services that does change in the time period of the analysis.
  • For short-run production, the quantity of variable inputs used in production can be changed, but the quantity of fixed inputs can not.

  • Fixed and variable inputs are closely connected to the time period of analysis.

Course Home | Lesson Menu | Page Back | Page Next

CONSUMER SURPLUS

The satisfaction that consumers obtain from a good over and above the price paid. This is the difference between the maximum demand price that buyers are willing to pay and the price that they actually pay. A related notion from the supply side of the market is producer surplus.

Complete Entry | Visit the WEB*pedia


APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either 500 feet of telephone cable or a package of 4 by 6 index cards, the ones with lines. Be on the lookout for letters from the Internal Revenue Service.
Your Complete Scope

This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing."

-- William A. Ward

L/C
Letter of Credit
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 ©2000-2024 AmosWEB*LLC
Send comments or questions to: WebMaster