|
|
UNEMPLOYMENT SOURCES: The unemployment of resources in general, and labor in particular, can be attributable to four basic reasons, or sources: cyclical, seasonal, frictional, and structural. Cyclical unemployment is involuntary unemployment created by business cycle recessions. Seasonal unemployment is relatively regular, read this as predictable, unemployment tied to a particular job. Frictional unemployment is temporary unemployment created when workers switch jobs. Structural unemployment is relatively permanent unemployment created because workers' skills are not the same as the skills needed on the job.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 14: Production | Unit 1: Short-Run Production
|
Page: 4 of 25
|
- A couple of other time periods can also come into play for assorted firms:
- Market Period:
- The market period is a time in which at all inputs in the production process are fixed, meaning the quantity of output itself is fixed.
- Very Long Run:
- The very long run is a time in which all inputs in the production process are variable and the technology and assorted social institutions affecting production can change.
|
|
|
|
|
|
|
PRICE ELASTICITY OF DEMAND The relative response of a change in quantity demanded to a change in price. More specifically the price elasticity of demand is the percentage change in quantity demanded due to a percentage change in price. This notion of elasticity captures the demand side of the market. A comparable elasticity on the supply side is the price elasticity of supply. Other notable demand elasticities are income elasticity of demand and cross elasticity of demand.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for poorly written technical manuals.
Your Complete Scope
This isn't me! What am I?
|
|
|
The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
|
|
|
"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
|
|
AV
Actual Value
|
|
|
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
|
|
