OPPORTUNITY COST, PRODUCTION POSSIBILITIES: The production possibilities analysis, which is the alternative combinations of two goods that an economy can produce with given resources and technology, can be used to illustrate opportunity cost--the highest valued alternative foregone in the pursuit of an activity.

     See also | production possibilities | production possibilities schedule | law of increasing opportunity cost | opportunity cost, production possibilities | full employment, production possibilities | unemployment, production possibilities | investment, production possibilities | derivation, production possibilities curve | assumptions, production possibilities |

OPPORTUNITY COST, PRODUCTION POSSIBILITIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: June 6, 2026].

Additional information on this term can be found at:

WEB*pedia: opportunity cost, production possibilities

Back to the GLOSS*arama

Household saving that does not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in saving. Autonomous saving is best thought of as a baseline level of saving (usually negative) that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the saving function or the saving line. The alternative to autonomous saving is induced saving, which does depend on income.

Complete Entry | Visit the WEB*pedia

Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either 500 feet of coaxial cable or a coffee cup commemorating the 1960 Presidential election. Be on the lookout for attractive cable television service repair people.
Your Complete Scope

This isn't me! What am I?

-- Michael Jordan, basketball player

User Feedback