Google
Sunday 
September 19, 2021 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
MARKET CONTROL: The ability of buyers or sellers to exert influence over the price or quantity of a good, service, or commodity exchanged in a market. Market control depends on the number of competitors. If a market has relatively few buyers, but a bunch of sellers, then the buyers tend to have relatively more market control than sellers. The converse occurs if there are a bunch of buyers, but relatively few sellers. If the market is controlled on the supply side by one seller, we have a monopoly, and if it is controlled on the demand side by one buyer, we have a monopsony. Most markets are subject to some degree of control.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson Contents
Unit 1: The Concept
  • Stretchability
  • Responsiveness
  • Quantity Changes
  • Some Definitions
  • Unit 1 Summary
  • Unit 2: A Little More
  • Two Categories
  • Why Study: Market Shocks
  • Why Study: Taxes
  • Why Study: Price Controls
  • Unit 2 Summary
  • Unit 3: Measurement
  • Two Types
  • The Coefficient
  • Doing The Numbers: Endpoint
  • Doing The Numbers: Midpoint
  • Unit 3 Summary
  • Unit 4: A Continuum
  • Elasticity Alternatives
  • Perfectly Elastic
  • Relative Elastic
  • Perfectly Inelastic
  • Relatively Inelastic
  • Unit 4 Summary
  • Unit 5: Market Elasticity
  • Four Measures
  • Elasticity Determinants
  • Unit 5 Summary
  • Course Home
    Elasticity Basics

    In this lesson, we will examine the basics of elasticity, including what it is, how it is measured, and how it is used in market analysis.

    • The first unit of this lesson, The Concept, introduces the elasticity concept and previews its role in market analysis.
    • In the second unit, A Little More, examines the importance of elasticity for such topics as market shocks, taxes, and price controls.
    • The third unit, Measurement, takes a close look at how elasticity is measured, focusing on the coefficient of elasticity.
    • The fourth unit, A Continuum, examines the five categories of elasticity, ranging from elastic to inelastic, that form a continuum.
    • The fifth unit and final unit, Market Elasticity, closes this lesson by introducing four key elasticity concepts for the market demand and supply.

    BEGIN Lesson =>


    <=PREVIOUS Lesson | NEXT Lesson =>

    ALLOCATION

    The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.

    Complete Entry | Visit the WEB*pedia


    APLS

    ORANGE REBELOON
    [What's This?]

    Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for defective microphones.
    Your Complete Scope

    This isn't me! What am I?

    The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
    "When you play, play hard; when you work, don't play at all. "

    -- Theodore Roosevelt, 26th US president

    DARA
    Decreasing Absolute Risk Aversion
    A PEDestrian's Guide
    Xtra Credit
    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



    | AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
    | About Us | Terms of Use | Privacy Statement |

    Thanks for visiting AmosWEB
    Copyright ©2000-2021 AmosWEB*LLC
    Send comments or questions to: WebMaster