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June 1, 2023 

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NUMBER OF SELLERS: One of the five supply determinants assumed constant when a supply curve is constructed, and that shift the supply curve when they change. The other four are resource prices, technology, other prices, and sellers' expectations. This determinant is based on the simple observation that if more people are willing and able to sell a good, then supply is greater.

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OIKONOMOS: This rather strange word is a greek term meaning "household manager" or "household steward" that gave rise to the modern term economy and the whole range of related terms, including economic, economics, economist, and economize. Ironically there are those who use economics less with the goal of providing "stewardship" of the economy and more focused on the goal of extracting maximum personal gain.

     See also | economy | economics | economic | economist | economize |


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AGGREGATE DEMAND SHIFTS

Changes in the aggregate demand determinants cause the aggregate demand curve to shift. The mechanism is comparable to that for market demand determinants and market demand. There are two alternatives--an increase in aggregate demand and a decrease in aggregate demand. An increase in spending by any of the four sectors--household, business, government, and foreign--shifts the aggregate demand curve to right. A decrease in spending by these four sectors shifts the aggregate demand curve to left.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for jovial bank tellers.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
"Chance favors only the prepared mind."

-- Louis Pasteur, biologist

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