|
|
AMERICAN ENTERPRISE INSTITUTE: A private organization that seeks to maintain and strengthen the foundations of freedom through scholarly research, open debate, and publications. The American Enterprise Institute for Public Policy Research (as it is officially designated) promotes the principles of limited government, private enterprise, vital cultural and political institutions, and a strong foreign policy and national defense. The American Enterprise Institute (AEI) publishes dozens of books and hundreds of articles and reports each year, and an influential policy magazine called The American Enterprise. The AEI is one of the largest and most respected "think tanks" in the United States. The AEI, which was founded in 1943, is located in Washington, D.C.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 11: Circular Flow | Unit 1: Basic Flow
|
Page: 5 of 22
|
|
Topic:
The Payment Flow
|
|
|
The payment flow goes in the opposite direction of the physical flow. A physical commodity goes one direction through markets and payment goes the other.- The household sector buys production from the business sector (counter-clockwise flow) in exchange for payment (clockwise flow) through product markets.
- The business sector buys resources from the household sector (counter-clockwise flow) in exchange for payment (clockwise flow) through factor markets.
- Revenue received by the business sector for selling goods is used to pay the factors of production.
- Factor payments become income used by household sector to buy production from the business sector.
- The circular flow makes about six cycles around the economy each year.
|
|
|
|
|
|
|
ELASTIC The general relation between two variables in which relatively small changes in one variable (A) cause relatively large changes in another variable (B). Small changes in variable A cause relatively large changes in variable B or the percentage change in variable B is larger than the percentage change in variable A. This characterization of elasticity is most important for the price elasticity of demand and the price elasticity of supply. Elastic is one of two general elasticity relations between two variables. The other is inelastic.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for rusty deck screws.
Your Complete Scope
This isn't me! What am I?
|
|
|
It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
|
|
|
"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
|
|
BQ
Basic Qoute
|
|
|
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
|
|
