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AD: The abbreviation for aggregate demand, which is the total (or aggregate) real expenditures on final goods and services produced in the domestic economy that buyers would willing and able to make at different price levels, during a given time period (usually a year). Aggregate demand (AD) is one half of the aggregate market analysis; the other half is aggregate supply. Aggregate demand, relates the economy's price level, measured by the GDP price deflator, and aggregate expenditures on domestic production, measured by real gross domestic product. The aggregate expenditures are consumption, investment, government purchases, and net exports made by the four macroeconomic sectors (household, business, government, and foreign).
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Lesson 22: Factor Supply | Unit 2: Resources
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Page: 7 of 25
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Topic:
Alike But Different
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- Differences might very well exist in the supply relations for the various resources.
- Let's briefly consider a few features of the four factors.
- Labor: The person can not be separated from the resource.
- Capital: The supply and demand of capital services are often controlled by the same decision maker.
- Land: Land provides two distinct types of productive services -- space and materials.
- Entrepreneurship: The central feature of entrepreneurship is the risk involved in organizing production.
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FACTORS OF PRODUCTION Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Factors of production are also termed resources or scarce resources.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales seeking to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"The way employees treat customers reflects the manner in which they're treated by management. " -- James Perkins, president, Cornell University
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AMW
Average Monthly Wage
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