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July 22, 2019 

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VALUE: Quite simply, this is the amount of consumer satisfaction directly or indirectly obtained from a good. service, or resource. The more a good satisfies a person's want or need, then the more valuable it is to that person. Furthermore, different people are likely to place different values on a good. Resources are valuable to the degree that they are used to produce stuff that consumers want. The bottom line is that value, like beauty, is truly in the eye of the beholder.

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KONDRATIEFF CYCLE: A cycle of economic activity lasting between 45 and 60 years that acquired the name of the first economist to study it, the Russian economist N. D. Kondratieff. The Kondratieff cycle is somewhat controversial and has been attributed to a number of different causes, including investment in transportation infrastructure. This is one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Kitchin cycle, Juglar cycle, and Kuznets cycle.

     See also | business cycle | Kitchin cycle | Juglar cycle | Kuznets cycle | investment | investment business cycle | infrastructure | transportation | Great Depression | depression |


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KONDRATIEFF CYCLE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: July 22, 2019].


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AGGREGATE DEMAND INCREASE, SHORT-RUN AGGREGATE MARKET

A shock to the short-run aggregate market caused by an increase in aggregate demand, resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the short-run aggregate market results in an increase in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.

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APLS

GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time wandering around the downtown area wanting to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for infected paper cuts.
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More money is spent on gardening than on any other hobby.
"You can't build a reputation on what you are going to do."

-- Henry Ford, automaker

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Average Fixed Cost
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