|
|
WHEALER-LEA ACT: This was a major amendment to the Federal Trade Commission Act, passed in 1938, that gave powers to the Federal Trade Commission to investigate unfair and deceptive business practices and to prevent false advertising. The Whealer-Lea Act was a major step in moving the Federal Trade Commission into its current role as more of a consumer protection agency than a monopoly buster.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 7: Market | Unit 2: The Numbers
|
Page: 7 of 22
|
|
Topic:
Market Agreement
|
|
|
What would happen if we had different prices in the market?- At 10 cents, the quantity demanded is 800 tapes and the quantity supplied is 0 tapes. This is not a suitable price. The buyers can't buy all that they want.
- At 90 cents, the quantity demanded is 0 tapes and the quantity supplied is 800 tapes. This is not a suitable price, either. The sellers can't sell all that they want.
- Buyers or sellers are not satisfied at these prices and will take corrective action.
This is not equilibrium.
|
|
|
|
|
|
|
DETERMINANTS Ceteris paribus factors that are held constant when a curve is constructed. Changes in these factors then cause the curve to shift to a new location. The most common determinants are demand determinants for the demand curve and supply determinants for the supply curve. Other curves used in the analysis of economics also have notable determinants, including the production possibilities curve, the aggregate demand curve, the aggregate supply curve, and the short-run average cost curve.
Complete Entry | Visit the WEB*pedia |
|
|
|
John Maynard Keynes was born the same year Karl Marx died.
|
|
|
"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
|
|
PTA
Preferential Trade Agreement
|
|
|
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
|
|
