Google
Tuesday 
June 17, 2025 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
ABSOLUTE POVERTY: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer relative poverty.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

PROFIT CURVE: A curve that graphically represents the relation between economic profit earned by a firm and the quantity of output sold. This curve is constructed to capture the relation between profit and the level of output, holding other variables, especially those affecting the total revenue and total cost curves, constant. This is one of three methods typically used to determine the profit-maximizing quantity of output produced by a firm. The other two methods are total revenue and total cost and marginal revenue and marginal cost.

     See also | profit | perfect competition | short-run production | firm | quantity | total revenue | total cost | profit maximization | production | marginal revenue | marginal cost | profit curve, monopolistic competition | profit curve, monopoly |


Recommended Citation:

PROFIT CURVE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 17, 2025].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: profit curve

Search Again?

Back to the GLOSS*arama

DEMAND INCREASE AND SUPPLY DECREASE

A simultaneous increase in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a rightward shift of the demand curve, and a decrease in the willingness and ability of sellers to sell a good at the existing price, illustrated by a leftward shift of the supply curve. When combined, both shifts result in an indeterminant change in equilibrium quantity and an increase in equilibrium price.

Complete Entry | Visit the WEB*pedia


APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a package of 3 by 5 index cards, the ones without lines or a blue mechanical pencil. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
Your Complete Scope

This isn't me! What am I?

Three-forths of the gold mined each year is used to manufacture jewelry.
"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. "

-- Mark Twain, writer

L/C
Letter of Credit
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 ©2000-2025 AmosWEB*LLC
Send comments or questions to: WebMaster