Google
Thursday 
March 28, 2024 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
MARGINAL REVENUE, MONOPOLISTIC COMPETITION: The change in total revenue received by a monopolistically competitive firm resulting from a change in the quantity of output sold. For a monopolistically competitive firm, marginal revenue is less than the price.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 3: Scarcity | Unit 2: Resources Page: 4 of 17

Topic: Factors <=PAGE BACK | PAGE NEXT=>

Factors of production, productive factors, or resources are the 'stuff' used to create wants-and-needs-satisfying goods.

Economists have four official groups, or categories, for our resources, for our factors of production:

  • Labor: human effort, both physical and mental.
  • Capital: machines, equipment, tools, and buildings.
  • Land: raw materials or natural resources.
  • Entrepreneurship: risk-taking organizers of production.

Course Home | Lesson Menu | Page Back | Page Next

PERSONAL INCOME

The total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. Personal income (PI) is one of three measures of income reported in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are national income (NI) and disposable income (DI). Two related measures of production are gross domestic product (GDP) and net domestic product (NDP). The primary use of personal income is to measure the income actually paid out to the household sector. After adjusting for income taxes, personal income forms the basis for consumption expenditures on gross domestic product.

Complete Entry | Visit the WEB*pedia


APLS

WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a birthday gift for your uncle or a pair of red and purple designer socks. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
Your Complete Scope

This isn't me! What am I?

The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Good judgment comes from experience, and often experience comes from bad judgment."

-- Rita Mae Brown ‚ Writer

AACT
American Assocation of Commodity Traders
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 ©2000-2024 AmosWEB*LLC
Send comments or questions to: WebMaster