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TOTAL FIXED COST CURVE: A curve that graphically represents the relation between total fixed cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between total fixed cost and the level of output, holding other variables, like technology and resource prices, constant. Because total fixed cost are, in fact, fixed, the total fixed cost curve is, in fact, a horizontal line.
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HARROD-DOMAR MODEL: A model economic growth developed by R. F. Harrod and E. D. Domar that seeks to explain why an economy would not grow as fast has its potential growth rate. This model is based on the notion that actual income determines the amount saving, which is determines investment, which is what affects the rate of economic growth. If saving is not enough, the potential growth rate will not be achieved. The Harrod-Domar model, developed in the 1930s, has a strong Keynesian economic flavor, both indicating that the economy does not automatically achieve its potential. See also | economic growth | saving | investment | Keynesian economics |
Recommended Citation:HARROD-DOMAR MODEL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 27, 2022].
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FOURTH RULE OF COMPETITION The fourth of seven basic rules of the economy, stating that competition among market buyers and sellers generates an efficient allocation of resources. Competition depends on the relative number of buyers and sellers. The side of the market with fewer numbers generally has relatively less competition and more market control.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for door-to-door salesmen.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"He who has a „why¾ to live can bear with almost any „how."" -- Friedrich Nietzsche, Philosopher
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ATS
Automatic Transfer Service
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