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MARGINAL FACTOR COST AND AVERAGE FACTOR COST: The relation between marginal factor cost and average factor cost is comparable to other average-marginal relations found in the study of economics. For a firm that hires factors in a perfectly competitive factor market, marginal factor cost and average factor cost are equal, and equal to the factor market price. All three are represented by a horizontal, or perfectly elastic, curve equal to the factor market price. For a firm that hires factors in an imperfectly competitive factor market, especially monopsony, marginal factor cost is greater than both average factor cost and the factor market price.

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AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE:

A scientific society whose main mission is to advance science and innovation throughout the world. The American Association for the Advancement of Science (AAAS for short) publishes one of the most respected scientific magazines called Science. The association and magazine have nearly 140,000 individual and institutional subscribers, plus 272 affiliated organizations in more than 130 countries, serving a total of 10 million individuals. The American Association for the Advancement of Science was founded in 1848 to represent all disciplines of science and to support scientific exchange and discussion of science and society issues.
The American Association for the Advancement of Science has many goals. Among the most important ones, it strives to foster communication among scientists, engineers and the public, to enhance international cooperation in science, to promote the responsible conduct and use of science and technology, and to foster education in science and technology for everyone. The AAAS is primarily funded through private donations.

The AAAS publishes Science, which is a weekly, peer-reviewed journal that reports on significant original scientific research, plus reviews and analyses of current research and science policy. Science has headquarters in Washington, D.C., and Cambridge, U.K., and it publishes research from all fields of science.

Four Programs

The AAAS maintains four program areas:
  • Science and Policy: Includes programs devoted to activities in realms where science, government and society intersect. These programs serve a number of AAAS objectives, including furthering the work of scientists, improving the effectiveness of science in the promotion of human welfare, and fostering scientific freedom and responsibility

  • International Programs: Programs devoted to enhance cooperation between scientists and engineers in the United States and those of other countries. Programs are designed to strengthen the role of scientists and engineers in developing countries and to increase the contribution of science and technology to the solution of regional and global problems.

  • Education and Human Resources: Programs designed to promote science, technology, engineering and mathematics education. These program target a diverse audience including schools, teachers and librarians, children, families and communities, higher education, and the public.

  • Project 2061: A long-term AAAS initiative to advance literacy of science, mathematics and technology. In a 1989 publication of Science, Project 2061 set out recommendations for what all students should know and be able to do in science, mathematics, and technology by the time they graduate from high school. The project laid the groundwork for the nationwide science standards movement of the 1990s.

Recognitions

As part of its efforts for the advancement of science, the AAAS also keeps two programs to recognize distinguished scientists:
  • Fellowships: Election as a fellow of AAAS is an honor bestowed upon members by their peers. Fellows are recognized for meritorious efforts to advance science or its applications.

  • Awards: To recognize scientists, journalists, and public servants for significant contributions to science and to the public's understanding of science

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AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 2, 2024].


Check Out These Related Terms...

     | National Bureau of Economic Research | Conference Board, The | Bureau of Economic Analysis | Bureau of Labor Economics | Nobel Prize in Economic Sciences |


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     | economic science | science | social science | physical science | positive economics | economic analysis |


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