|
|
FALLACY: A logical error in an argument or evaluation of a policy. The six common fallacies that surface in economic analysis are: false cause, personal attack, division, composition, false authority, and mass appeal. These fallacies are most troublesome because, although false, they seem correct, especially when used by a slick-talking, charismatic person (politician) or when the fallacies support a preconceived notion or fundamental belief.
Visit the GLOSS*arama
|
|
|
|
                          
AXES: Two number lines that are joined at a right angle such that they intersect at their zero points (called the origin). The vertical axis is by convention termed the Y-axes and the horizontal axis is termed the X-axis. These axes are used to locate or plot pairs of numbers in coordinate space, one value for the X-variable coordinate and a corresponding value for the Y-variable coordinate. More often than not, coordinate number pairs are used to plot relationships that can be connected by one or more lines. This line construction procedure is one of the more powerful tools used by economists. Economists typically analyze relationships between two variables, such as price and quantity demanded. By letting one axis measure price and the other measure quantity demanded, these axes form the framework, the guidelines if you will, for constructing a demand curve (the relationship between price and quantity demanded). Once we have an abstract relationship graphed out, then it can be used to perform all sorts of economic analysis. See also | origin | vertical axis | horizontal axis | curve | slope | quantity demanded | demand curve | economic analysis |
Recommended Citation:AXES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 30, 2025].
Search Again?
Back to the GLOSS*arama
|
|
|
PRICE DISCRIMINATION The act of selling the same good to different buyers for different prices that are not justified by different production costs. This is practiced by suppliers who have achieved some degree of market control, especially monopoly. Common examples of price discrimination are electricity rates, long-distance telephone charges, movie ticket prices, airplane ticket prices, and assorted child or senior citizen discounts. Price discrimination takes the form of one of three degrees: (1) first degree, in which each price is the maximum price that buyers are willing and able to pay, (2) second degree, in which price is based on the quantity sold, and (3) third degree, in which prices are based on an easily identifiable characteristic of the buyer.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a T-shirt commemorating the second moon landing or a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for broken fingernail clippers.
Your Complete Scope
This isn't me! What am I?
|
|
|
Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
|
|
|
"I learned about the strength you can get from a close family life. I learned to keep going, even in bad times. I learned not to despair, even when my world was falling apart. I learned that there are no free lunches. And I learned the value of hard work. " -- Lee Iacocca
|
|
PVR
Profit Volume Ratio
|
|
|
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
|
|
