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CHANGE IN BUSINESS INVENTORIES: The increase or decrease in the stocks of final goods, intermediate goods, raw materials, and other inputs that businesses keep on hand to use in production. This is one of two main categories of gross private domestic investment included in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other category is fixed investment. Change in business inventories is NOT what most people think of when the topic of business investment arises. Inventory changes are considered investment because firms need inventories to smooth the flow of production and sales just like they need factories and equipment to produce goods. In fact, inventories are frequently termed "working capital."
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Lesson 22: Factor Supply | Unit 3: Factor Supply
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Page: 16 of 25
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Topic:
Supply Curves Times Two
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- Market control on the buying side of factor markets means that firms can face one of two types of supply curves for the factors their employ:
- Perfect Competition:
If we're looking for a buyer with absolutely no market control, then we are looking for perfect competition.
- Monopsony, Oligopsony, and Monopsonistic Competition:
If we're looking for a buyer with market control, then we can choose among monopsony, oligopsony, and monopsonistic competition.
- The relative elasticity of this curve depends, of course, on the market control of the buying firm.
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AVERAGE REVENUE CURVE, MONOPOLY A curve that graphically represents the relation between average revenue received by a monopoly for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopoly's output.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for crowded shopping malls.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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CAP
Common Agricultural Policy
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