|
WEALTH: The net ownership of material possessions and productive resources. In other words, the difference between physical and financial assets that you own and the liabilities that you owe. Wealth includes all of the tangible consumer stuff that you possess, like cars, houses, clothes, jewelry, etc.; any financial assets, like stocks, bonds, bank accounts, that you lay claim to; and your ownership of resources, including labor, capital, and natural resources. Of course, you must deduct any debts you owe.
Visit the GLOSS*arama
|
|
|
|
Lesson 5: Market Demand | Unit 3: Demand Curve
|
Page: 11 of 20
|
The area beneath the demand curve is the demand space. - The curve represents the maximum price that buyers would be willing to pay.
- Buyers would be willing to pay less than the demand price on the demand curve, but not more.
|
|
|
|
|
|
ABSOLUTE ADVANTAGE The general ability to produce more goods or services using fewer resources. A person or country has an absolute advantage in production largely due to superior technology or greater technical efficiency. A related, but contrasting concept is comparative advantage. Both terms are perhaps most important to the study of international trade, but also provide insight into other exchanges.
Complete Entry | Visit the WEB*pedia |
|
|
GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for vindictive digital clocks with revenge on their minds. Your Complete Scope
This isn't me! What am I?
|
|
In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
|
|
"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
|
|
SFA Securities and Futures Authority (UK)
|
|
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
|
|