Google
Saturday 
May 25, 2019 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
RENEWABLE RESOURCE: A natural resource that can be increased by either automatically through the natural forces of the environment or through actions undertaken by people. The quantities of renewable resources and not fixed and thus the amounts available for use tomorrow can be increased. Efficient use of renewable resources requires a balance between the rate of use and the rate of renewal. It is possible to efficiently use renewable resources indefinitely. However, such resources can also be exhausted if the rate of use exceeds the rate of renewal. Common examples of renewable resources are plant life, animal life, clean air, and clean water.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

INFERIOR GOOD: A good for which an increase in income causes a decrease in demand, or a leftward shift in the demand curve. If demand decreases as income increases, it is an inferior good, or a good with a negative income elasticity of demand. An inferior good is one of two alternatives falling within the income determinant of demand. The other is a normal good.

     See also | good | income | demand | demand curve | income, demand determinant | income elasticity of demand | normal good |


Recommended Citation:

INFERIOR GOOD, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: May 25, 2019].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: inferior good

Search Again?

Back to the GLOSS*arama

SHORT-RUN AGGREGATE MARKET

A macroeconomic model relating the price level and real production under the assumption that SOME prices are inflexible, especially resource prices. This is one of two aggregate market submodels used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The other is the long-run aggregate market. The short-run aggregate market isolates the interaction between aggregate demand and short-run aggregate supply. The key assumption of this model is that SOME prices, especially resource prices, are inflexible. The primary result of this model is that the economy can achieve short-run equilibrium at real production that is either greater than or less than full-employment.

Complete Entry | Visit the WEB*pedia


APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for broken fingernail clippers.
Your Complete Scope

This isn't me! What am I?

Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"There's a very positive relationship between people's ability to accomplish any task and the time they're willing to spend on it."

-- Dr. Joyce Brothers

RTA
Regional Trading Arrangement
A PEDestrian's Guide
Xtra Credit
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2019 AmosWEB*LLC
Send comments or questions to: WebMaster