|
|
PLANT: The physical capital (building and equipment) at a particular location used for the production of goods and services. While the term plant is occasional used synonymously with the terms firm or business, when economists get down to specifics, which they are prone to do, the term plant is used ONLY for a specific production facility. As such, it best used synonymously with the term factory.
Visit the GLOSS*arama
|
|
|
|
|
FACTOR MARKET, EFFICIENCY A factor market achieves efficiency in the allocation of resources by equating marginal revenue product to factor price. Perfect competition, as the efficiency benchmark, is the only market structure to satisfy this criterion and achieve factor market efficiency. Monopsony, oligopsony, and monopsonistic competition are inefficient because they equate marginal revenue product to marginal factor cost, both of which are greater than factor price.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for neighborhood pets, especially belligerent parrots.
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.
|
|
|
"Being defeated is only a temporary condition; giving up is what makes it permanent." -- Marilyn vos Savant, Author
|
|
AASB
American Assocation of Small Business
|
|
|
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
|
|
