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October 16, 2018 

AmosWEB means Economics with a Touch of Whimsy!

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MARKETING: The ongoing process of developing, pricing, promoting, distributing, and packaging products, ideas, and services to satisfy customers’ wants and needs in a dynamic environment. Sometimes used interchangeably with sales is a misnomer. Sales, while a component of the promotion mix variable, is not the equivalent to marketing. Marketing is a broad, integrated strategy that transcends the entire organization.

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ECONOMIC GOOD: The transformation of limited resources for the purpose of satisfying unlimited wants and needs. You might detect a similarity between the term economic good and the term scarcity. The reason is that "economic good" is another term for scarce good. We call a scarce good an economic good because a scarce good is one that can be traded through markets.

     See also | economics | good | services | scarcity | scarce | limited resources | unlimited wants and needs | scarce good | market |


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ECONOMIC GOOD, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: October 16, 2018].


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FACTOR SUPPLY CURVE

A graphical representation of the relation between the price to a factor of production and quantity of the factor supplied, holding all ceteris paribus factor supply determinants constant. The factor supply curve is one half of the factor market. The other half is the factor demand curve.

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APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?

A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"Success is more a function of consistent common sense than it is of genius. "

-- An Wang, industrialist

MR
Marginal Revenue
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