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WEIGHT LOSING: An activity in which the transportation cost of the inputs is greater than the transportation cost of the output. Using the term weight to mean transportation cost, an activity is said to lose weight if the cost of getting the inputs to the factory is greater than the cost of moving the output to the market. A weight-losing activity has a greater attraction to, and tends to locate near, the source for the inputs.
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Lesson 21: Factor Demand | Unit 4: Determinants
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Page: 17 of 24
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- The ceteris paribus determinants of factor demand.
- Factor demand determinants are three ceteris paribus items that affect factor demand, but which are assumed constant when a factor demand curve is constructed. Changes in any one causes a shift of the factor demand curve.
- What are the factor demand determinants?
- Product Demand
- Factor Productivity
- Other Prices
- How do they affect the factor demand curve?
The factor demand curve, like any other curve, can shift in one of two ways: - An increase in factor demand is seen as a rightward shift of the factor demand curve.
- A decease in factor demand is seen as a leftward shift of the factor demand curve.
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DEMAND DECREASE AND SUPPLY INCREASE A simultaneous decrease in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a leftward shift of the demand curve, and an increase in the willingness and ability of sellers to sell a good at the existing price, illustrated by a rightward shift of the supply curve. When combined, both shifts result in an indeterminant change in equilibrium quantity and a decrease in equilibrium price.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at an auction looking to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for celebrities who speak directly to you through your television.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"You have to find something that you love enough to be able to take risks, jump over the hurdles and break through the brick walls that are always going to be placed in front of you. If you don't have that kind of feeling for what it is you're doing, you'll stop at the first giant hurdle. " -- George Lucas
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L/O
Letter of Offer
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