Google
Wednesday 
December 6, 2023 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
CLASSICAL AGGREGATE SUPPLY CURVE: A graphical representation of the classical economic view of the relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The classical aggregate supply curve is a vertical line that reflects the classical view that the macroeconomy has flexible prices and maintains full employment. This aggregate supply is essentially the long-run aggregate supply curve used in modern aggregate market analysis. It should be compared with the Keynesian aggregate supply curve.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 11: Elasticity Basics | Unit 2: A Little More Page: 6 of 25

Topic: Two Categories <=PAGE BACK | PAGE NEXT=>

  • Demand responsiveness can be classified into one of two broad categories:

  • Elastic:

  • A good is said to be elastic if quantity is very responsive to the price. To be more specific:

  • Elastic means the percentage change in quantity is greater than the percentage change in price.
  • Inelastic:

  • A good is said to be inelastic if quantity is NOT very responsive to the price. To be more specific:

  • Inelastic means the percentage change in quantity is less than the percentage change in price.

Course Home | Lesson Menu | Page Back | Page Next

ENTREPRENEURIAL BEHAVIOR

A preference for changing the status quo over maintaining it based on relatively greater satisfaction generated by novel information over redundant information. Entrepreneurial behavior underlies the inclination to undertake invention and innovation, including the creation of something new as well as the distribution and adoption of the new throughout society. It is the behavior most likely exhibited by entrepreneurship. An alternative is managerial behavior, which is a preference for maintaining the status quo over changing it.

Complete Entry | Visit the WEB*pedia


APLS

BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for slow moving vehicles with darkened windows.
Your Complete Scope

This isn't me! What am I?

Natural gas has no odor. The smell is added artificially so that leaks can be detected.
"Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness."

-- Martin Luther King, Jr., clergyman

NAFTA
North America Free Trade Agreement
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 ©2000-2023 AmosWEB*LLC
Send comments or questions to: WebMaster