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RENT: Factor payments to the owners of land for using the various resources of land in the production of goods and services. Rent is included in the National Income and Product Accounts maintained by the Bureau of Economic Analysis under the official title rental income of person. Rent is typically the smallest of the four factor payments, accounting for less than 5% of the income earned by the household sector.
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INELASTIC SUPPLY The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity supplied. Large changes in price cause relatively small changes in quantity supplied or the percentage change in quantity supplied is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of supply. Inelastic supply is one of two general elasticity relations for supply. The other is elastic supply.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for the last item on a shelf.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Sometimes our light goes out, but is blown into flame by another human being. Each of us owes deepest thanks to those who have rekindled this light. " -- Albert Schweitzer, missionary physician
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AS-AD
Aggregate Supply-Aggregate Demand Model
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