Google
Wednesday 
November 25, 2020 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
VERTICAL INTEGRATION: The situation in which a firm participates in more than one successive stage of the production or distribution process. For example a soft drink company that also controls a sugar-producing firm is said to be vertically integrated because the soft drink company does not have to buy sugar from other firms to produce soft drinks. In some cases, two separate firms are vertically integrate because one firm produces a good or service and the other distributes it.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

OPPORTUNITY COST: The highest valued alternative foregone in the pursuit of an activity. This is a hallmark of anything dealing with economics--and life for that matter--because any action that you take prevents you from doing something else. The ultimate source of opportunity cost is the pervasive problem of scarcity (unlimited wants and needs, but limited resources). Whenever limited resources are used to satisfy one want or need, there are an unlimited number of other wants and needs that remain unsatisfied. Herein lies the essence of opportunity cost. Doing one thing prevents doing another.

     See also | economics | scarcity | unlimited wants and needs | limited resources | resources | scarce resource | free resources | production possibilities | production possibilities frontier | law of increasing opportunity cost | value | satisfaction | consumption | production | economic cost | accounting cost | total cost |


Recommended Citation:

OPPORTUNITY COST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: November 25, 2020].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: opportunity cost

Search Again?

Back to the GLOSS*arama

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.

Complete Entry | Visit the WEB*pedia


APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for poorly written technical manuals.
Your Complete Scope

This isn't me! What am I?

Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"There is more to life than increasing its speed. "

-- Mohandas Gandhi, activist

WLLN
Weak Law of Large Numbers
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 ©2000-2020 AmosWEB*LLC
Send comments or questions to: WebMaster