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ZONING: Legal restrictions on where different activities can locate within a city. Most cities regulate the location of industrial, commercial, and residential activities. The underlying motivation behind zoning is to keep less desirable, but perhaps more profitable, activities from encroaching upon residential areas.
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Lesson 11: Elasticity Basics | Unit 5: Market Elasticity
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Page: 25 of 25
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In this unit, you should have learned about:- The supply and demand elasticity measurements used in the study of the market -- price elasticity of demand, price elasticity of supply, income elasticity of demand, cross elasticity of demand.
- The three elasticity determinants -- availability of substitutes, time period, and proportion of budget.
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AGGREGATE SUPPLY DETERMINANTS An assortment of ceteris paribus factors that affect short-run and long-run aggregate supply, but which are assumed constant when the short-run and long-run aggregate supply curves are constructed. Changes in any of the aggregate supply determinants cause the short-run and/or long-run aggregate supply curves to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate supply curves to shift, they are commonly grouped into three broad categories--resource quantity, resource quality, and resource price.
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A half gallon milk jug holds about $50 in pennies.
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"In a time of drastic change, it is the learners who inherit the future. " -- Eric Hoffer, philosopher
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FAO
Food and Agricultural Organization
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