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February 13, 2026 

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DEMAND: The willingness and ability to buy a range of quantities of a good at a range of prices, during a given time period. Demand is one half of the market exchange process; the other is supply. This demand side of the market draws inspiration from the unlimited wants and needs dimension of the scarcity problem. People desire the goods and services that satisfy our wants and needs. This is the ultimate source of demand.

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TOTAL PRODUCT AND AVERAGE PRODUCT: A graphical connection between total product curve and average product curve stating that the slope of a line between the origin and any point on the total product curve is equal to the average product. Imagine a ray shooting out of the origin and hitting the total product curve. As this ray hits each point on the curve, remaining anchored at the origin, the slope of the ray changes. And the slope of this ray is average product.

     See also | total product | average product | short-run production | slope | total-marginal rule | average-marginal rule | law of diminishing marginal returns | increasing marginal returns | decreasing marginal returns | marginal product |


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TOTAL PRODUCT AND AVERAGE PRODUCT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: February 13, 2026].


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CONSUMER SOVEREIGNTY

The notion that consumers ultimately determine what goods and services are produced and how the economy's limited resources are used based on the purchases they make. Consumers thus reign over the economy as sovereign rulers.

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Today, you are likely to spend a great deal of time at an auction wanting to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for mail order catalogs with hidden messages.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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