|
|
CAPITAL DEPRECIATION: The wearing out, breaking down, or technological obsolescence of physical capital that results from use in the production of goods and services. To paraphrase an old saying, "You can't make a car without breaking a few socket wrenches." In other words, when capital is used over and over again to produce goods and services, it wears down from such use.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 21: Factor Demand | Unit 4: Determinants
|
Page: 21 of 24
|
In this unit, you should have learned about:- How and why factor demand determinants shift the factor demand curve.
- The three main factor demand determinants -- product demand, factor productivity, and other prices.
- That an increase in factor demand is a rightward shift of the factor demand curve and that a decrease in factor demand is a leftward shift of the factor demand curve.
- How the product demand determinant is reflected by the product price and how changes in product price cause the factor demand curve to shift.
- How the factor productivity determinant is includes changes in technology and education and is reflected by marginal physical product and how changes in factor productivity cause the factor demand curve to shift.
- How the other prices determinant captures both substitute and complement relations between factors and how changes in other prices cause the factor demand curve to shift.
|
|
|
|
|
|
|
AVERAGE REVENUE, MONOPOLY The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a monopoly average revenue is greater than marginal revenue. Average revenue for a monopoly is often depicted by a negatively-sloped average revenue curve.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either a combination CD player, clock radio, and telephone (with answering machine) or a revolving spice rack. Be on the lookout for celebrities who speak directly to you through your television.
Your Complete Scope
This isn't me! What am I?
|
|
|
It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
|
|
|
"A leader, once convinced that a particular course of action is the right one, must . . . be undaunted when the going gets tough." -- President Ronald Reagan
|
|
BCD
Business Cycle 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
|
|
