|
PREFERENCES CHANGE, UTILITY ANALYSIS: A disruption of consumer equilibrium identified with utility analysis caused by changes in the preferences for a good, which likely results in a change in the quantities of the goods consumed. The change in preferences alters the marginal utility-price ratio and forces a reevaluation of the rule of consumer equilibrium.
Visit the GLOSS*arama
|
|

|
|
                          
SERVICE: An activity that provides direct satisfaction of wants and needs without the production of a tangible product or good. Examples include information, entertainment, and education. This term service should be contrasted with the term good, which involves the satisfaction of wants and needs with tangible items. You're likely to see the plural combination of these two into a single phrase, "goods and services," to indicate the wide assortment of economic production from the economy's scarce resources. See also | good | satisfaction | wants | needs | good | production | information | education | economy | scarce good | scarce resource | economic good |  Recommended Citation:SERVICE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: March 17, 2025]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: service
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 |


|
|
GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for infected paper cuts. Your Complete Scope
This isn't me! What am I?
|
|
In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
|
|
"If football taught me anything about business, it is that you win the game one play at a time." -- Fran Tarkenton, Football Player
|
|
BAE Bureau of Agricultural Economics
|
|
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
|

|