|
INCOME: Revenue earned or received by households that can be used for consumption or saving. For the aggregate economy, earned income is termed national income, while received income is termed personal income. The key is that income for the aggregate economy is generated in the production of goods and services.
Visit the GLOSS*arama
|
|
![](../images/bar_teal.jpg)
|
|
![](../images/a1.gif) ![](../images/b1.gif) ![](../images/c1.gif) ![](../images/d1.gif) ![](../images/e1.gif) ![](../images/f1.gif) ![](../images/g1.gif) ![](../images/h1.gif) ![](../images/i1.gif) ![](../images/j1.gif) ![](../images/k1.gif) ![](../images/l1.gif) ![](../images/m1.gif) ![](../images/n1.gif) ![](../images/o1.gif) ![](../images/p1.gif) ![](../images/q1.gif) ![](../images/r1.gif) ![](../images/s1.gif) ![](../images/t1.gif) ![](../images/u1.gif) ![](../images/v1.gif) ![](../images/w1.gif) ![](../images/x1.gif) ![](../images/y1.gif) ![](../images/z1.gif) ![](../images/nbr1.gif)
PRODUCT: A generic term for a tangible good, an intangible service, or an idea. This is the "output" of any production process. The product is also one variable of the marketing mix. Products are classified as consumer or business. Consumer products can be convenience, shopping, specialty, or unsought. Business products are raw materials, components, installation, equipment, accessories, and MRO type items. See also | production | supply | output | good | service | consumer products | business products | services | ideas | MRO | price | promotion | distribution | packaging | marketing mix | ![](../images/aw_sm.gif) Recommended Citation:PRODUCT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: July 26, 2024]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: product
Search Again?
Back to the GLOSS*arama
|
|
INELASTIC DEMAND The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity demanded. Large changes in price cause relatively small changes in quantity demanded or the percentage change in quantity demanded is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of demand. Inelastic demand is one of two general elasticity relations for demand. The other is elastic demand.
Complete Entry | Visit the WEB*pedia |
![](../images/bar_dkblue.jpg)
![](../images/bar_dkblue.jpg)
|
|
BEIGE MUNDORTLE [What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for bottles of barbeque sauce that act TOO innocent. Your Complete Scope
This isn't me! What am I?
|
|
Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
|
|
"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
|
|
X Exports;Marks the Spot
|
|
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
|
![](../images/bar_ltblue.jpg)
|