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RELATIVE POVERTY LEVEL: The amount of income a person or family needs to purchase a relative amount of basic necessities of life. These basic necessities are identified relative to the current structure of society and the economy. For example, while a refrigerator would be a basic necessity for someone living in the our modern U.S. economy, it probably would not be consider a necessity for nomads of sub-Saharan Africa or aborigines of Australia.
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GEOGRAPHIC MOBILITY: The mobility, or movement, of factors of production from a productive activity in one location to a productive activity in another location. In particular, geographic mobility is the ease with which resources can change locations. For example, a worker leaves a job in one city and takes a job in another city. Some factors are highly mobile and thus are easily moved between cities, states, and even countries. Other factors are highly immobile and not easily relocated. You might want to compare geographic mobility with occupation mobility, the movement of factors from one type of productive activity to another type of productive activity. See also | mobility | occupational mobility | labor | factor markets | compensating wages | migration |
Recommended Citation:GEOGRAPHIC MOBILITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: geographic mobility
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WHAT? The allocation question that determines the types and quantities of goods and services produced with society's limited resources. What goods and services are produced with society's limited resources? This is one of three basic questions of allocation. The other two are How? and For Whom?
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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CES
Constant Elasticity of Substitution
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