Google
Tuesday 
September 21, 2021 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
CAPITAL: One of the four basic categories of resources, or factors of production. It includes the manufactured (or previously produced) resources used to manufacture or produce other things. Common examples of capital are the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. Capital's primary role in the economy is to improve the productivity of labor as it transforms the natural resources of land into wants-and-needs-satisfying goods.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 4: Production Possibilities | Unit 4: Analysis Page: 16 of 24

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

Bundles outside the curve can be achieved through economic growth.

Economic growth is the process of increasing the economy's ability to produce goods and expand the production possibilities curve.

  • Bundle M cannot be reached with existing resources and technology and the current production possibilities frontier.
  • The production possibilities frontier only represents a current boundary.
  • Expanding resources and technology gives us economic growth. Specifically, we can increase the quantity or quality of resources.

Course Home | Lesson Menu | Page Back | Page Next

ELASTICITY DETERMINANTS

Three factors that affect the numerical value of the price elasticity of demand and the price elasticity of supply--availability of substitutes, time period of analysis, and proportion of budget. The price elasticities of demand and/or supply for a good can change if these determinants change. The first two determinants are important to both price elasticity of demand and price elasticity of supply, while the third relates specifically to the price elasticity of demand.

Complete Entry | Visit the WEB*pedia


APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for defective microphones.
Your Complete Scope

This isn't me! What am I?

Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

TP
Total Product
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