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REGULATORY FORCES: Forces in the marketing environment that depend on various government regulatory agencies that impact how an organization operates on a daily basis. An example is the Federal Trade Commission (FTC), which monitors advertising, deceptive labeling, and false or misleading information. Agencies such as the FTC have powers to enforce regulations through fines and other penalties. Other regulatory agencies are: Food and Drug Administration (FDA), Federal Communications Commission (FCC), Environmental Protection Agency (EPA), and Consumer Product Safety Commission (CPSC).

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Lesson 22: Factor Supply | Unit 5: Taking Stock Page: 25 of 25

Topic: Unit Review <=PAGE BACK | PAGE NEXT=>

In this unit, you should have learned about:
  • A review of this study of factor supply, including the differences among the four factors of production, marginal factor cost, and factor supply determinants.
  • A preview of other lessons dealing with factor markets, including factor demand, factor market equilibrium, and the analysis of the labor markets.


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SAVING LINE

A graphical depiction of the relation between household sector saving and income. The saving line is closely related to the consumption line that forms one of the key building blocks for Keynesian economics. A saving line is characterized by vertical intercept, which indicates autonomous saving, and slope, which is the marginal propensity to save and indicates induced saving. The injections-leakages model used in Keynesian economics is based on the saving line.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. "

-- Henry David Thoreau, philosopher

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