|
|
DECREASING-COST INDUSTRY: A perfectly competitive industry with a negatively-sloped long-run industry supply curve that results because expansion of the industry causes lower production cost and resource prices. For a decreasing-cost industry the entry of new firms, prompted by an increase in demand, causes the long-run average supply curve of each firm to shift downward, which decreases the minimum efficient scale of production.
Visit the GLOSS*arama
|
|
|
|
|
POLITICAL ENTREPRENEURS Election seeking politicians who undertake risks inherent in the allocation of resources made through government actions. Like business entrepreneurs, political entrepreneurs take risks and organize production. They organize production with government laws, regulations, and policies. They run the risk of failed policies and losing elections. Their utility-maximizing actions are also a prime source of government failure. Falling victim to the principal-agent problem, pursuit of their own satisfaction (winning elections) often conflicts with what is best for the rest of society.
Complete Entry | Visit the WEB*pedia |
|
|
GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for fairy dust that tastes like salt.
Your Complete Scope
This isn't me! What am I?
|
|
|
Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
|
|
|
"Doing the best at this moment puts you in the best place for the next moment. " -- Oprah Winfrey, entrepreneur
|
|
VSE
Vancouver Stock Exchange (Canada)
|
|
|
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
|
|
