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SAVING-INVESTMENT MODEL: A model used to identify equilibrium in Keynesian economics based on injections (investment, I) and leakages (saving, S) for the two basic sectors (household and business). Equilibrium is achieved at the intersection of the saving line, S, and the investment line, I.
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Lesson Contents
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Unit 1: Short-Run Production |
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Unit 2: Production Measures |
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Unit 3: Product Curves |
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Unit 4: Long-Run Production |
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Unit 5: Supply | |
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Production
- The first unit of this lesson, Short-Run Production, begins our study by introducing a few basic concepts underlying production, especially short run, long run, fixed input, and variable input.
- In the second unit, Production Measures, we take a look the three standard measures of production -- total product, average product, and marginal product.
- The third unit, Product Curves, then presents graphical relations for these three measures -- total product curve, average product curve, and marginal product curve.
- In the fourth unit, Long-Run Production, we examine the role returns to scale play in long-run production.
- The fifth and final unit, Supply, then closes this lesson by previewing the importance of production to the supply decisions by firms.s
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INVISIBLE HAND The notion that buyers and sellers, consumers and producers, households and businesses, by pursuing their own self-interests do what is best for the economy automatically without any government intervention, as if guided by an invisible hand.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a pair of blue silicon oven mitts or a coffee cup commemorating the 2000 Olympics. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness." -- Martin Luther King, Jr., clergyman
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S&D
Supply and Demand
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