|
|
WANTS: This is often thought of as a psychological desire which makes life just a little more enjoyable, but which is not physiological necessary to life. You need oxygen, but you want a hot fudge sundae. Satisfaction is achieved by fulfilling wants.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 11: Elasticity Basics | Unit 1: The Concept
|
Page: 3 of 25
|
|
Topic:
Quantity Changes
|
|
|
- While the elasticity concept can be applied to several different areas, when applied to the market, elasticity captures the relation between price and quantity.
- The force activating the change is price and the variable that's being stretched is quantity.
- The importance of elasticity for market analysis comes into play in the following way:
- First, market shocks triggered by determinant-induced shifts of the demand and supply curves create shortages and surpluses.
- Second, governments are fond of placing taxes or price controls on markets.
|
|
|
|
|
|
|
LEGAL RESERVES The combination of vault cash and Federal Reserve deposits that banks can legally use to satisfy government reserve requirements. Legal reserves, which can also be considered total reserves, are divided between require reserves and excess reserves. Required reserves are used to back up deposits and process daily transactions, while excess reserves are then available for interest-paying loans.
Complete Entry | Visit the WEB*pedia |
|
|
BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a remote controlled ceiling fan or a how-to book on home decorating. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
Your Complete Scope
This isn't me! What am I?
|
|
|
Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
|
|
|
"Do not go where the path may lead, go instead where there is no path and leave a trail." -- Ralph Waldo Emerson
|
|
AID
Agency for International Development
|
|
|
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
|
|
