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AGGREGATE: A common modifier for an assortment of economic terms used in the study of macroeconomics that signifies a comprehensive, often national, total value. This modifier most often surfaces in the study of the AS-AD, or "aggregate market", model of the economy with such terms as aggregate demand and aggregate supply. For example, aggregate demand indicates the total demand for production in the macroeconomy and aggregate supply indicates the total amount of that output produced. Two other noted "aggregate" terms are aggregate expenditures and aggregate production function.
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PERFECT COMPETITION, SHUTDOWN: A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost). See also | perfect competition, profit maximization | perfect competition, loss minimization | perfect competition, short-run supply curve | short-run production alternatives | breakeven output |
Recommended Citation:PERFECT COMPETITION, SHUTDOWN, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: May 10, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: perfect competition, shutdown
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FEDERAL RESERVE NOTES Paper currency issued and authorized by the Federal Reserve System and used along with Treasury coins and checkable deposits as the M1 money supply for the U.S. economy. Federal Reserve notes were first issued in 1913 and currently circulate in denominations of $1, $2, $5, $10, $20, $50, and $100. These notes underwent a major redesign to prevent counterfeiting in the 1990s.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for door-to-door salesmen.
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The average bank teller loses about $250 every year.
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"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
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SMSA
Standard Metropolitan Statistical Area
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