|
|
DEMOGRAPHIC VARIABLES: Characteristics of the aggregate population that marketers use to segment the market, including age, ethnicity, income, education, gender, and race. Other characteristics include occupation, family size, religion, and social class. These characteristics are the link to buyers' wants and needs and affect purchasing behavior. By carefully studying population groups marketers develop marketing mixes that maximize customer activity.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 21: Factor Demand | Unit 3: The Curve
|
Page: 15 of 24
|
|
Topic:
Factor Demand Curve
|
|
|
A few points about this curve.- The factor demand curve is only the negatively-sloped portion of the marginal revenue product curve.
- The factor demand curve is negatively sloped because the marginal revenue product curve is negatively sloped, and this is due to the law of diminishing marginal returns.
- The factor demand curve stops at the horizontal axis where marginal revenue product is zero.
- This factor demand curve is based on the presumption that the firm was able to pay the same wage for each worker ($20 per hour).
|
|
|
|
|
|
|
AGGREGATE SUPPLY INCREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the short-run aggregate supply curve. An increase in aggregate supply in the short-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a looseleaf notebook binder or hand lotion, a big bottle of hand lotion. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
Your Complete Scope
This isn't me! What am I?
|
|
|
Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
|
|
|
"Wise men speak because they have something to say; Fools because they have to say something. " -- Plato, philosopher
|
|
NLLS
Nonlinear Least Squares
|
|
|
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
|
|
