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TRANSACTION COSTS: The costs that arise when dealing or trading with others that are beyond the price. These include the costs of negotiating, writing and enforcing contracts. When buying or selling securities for example, transaction costs include brokers' commissions and dealers' spreads.

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SHORT-RUN AGGREGATE SUPPLY: The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a period of time in which some prices, especially wages, are rigid, inflexible, or otherwise in the process of adjusting. Short-run aggregate supply (SRAS) is one of two aggregate supply alternatives, distinguished by the degree of price flexibility; the other is long-run aggregate supply. Short-run aggregate supply is combined with aggregate demand in the short-run aggregate market analysis used to analyze business-cycle instability, unemployment, inflation, government stabilization policies, and related macroeconomic topics.

     See also | short-run aggregate market | inflexible prices | price level | real production | short run | short-run equilibrium | full employment | business cycles | aggregate output | unemployment | inflation | stabilization policies | long-run aggregate supply |


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SHORT-RUN AGGREGATE SUPPLY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: January 22, 2018].


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DISEQUILIBRIUM PRICE

A price that does not achieve equilibrium in the market. A disequilibrium price is either above or below the equilibrium price. A price below the equilibrium price creates a shortage and a price above the equilibrium price creates a surplus. In both case, the market imbalance prompts the price to change, moving toward the equilibrium price.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for broken fingernail clippers.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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