Google
Wednesday 
February 8, 2023 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
FEDERAL ADVISORY COUNCIL: A group consisting of Presidents from 12 commercial banks, one from each of the 12 Federal Reserve Districts. This council has no policy making role, but merely offers advice, suggestions, and feedback on how Federal Reserve policies are affecting commercial banks and their customers in non-bank public.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 23: Factor Market Equilibrium | Unit 1: Intro Page: 6 of 24

Topic: Unit Review <=PAGE BACK | PAGE NEXT=>

In this unit, you should have learned about:
  • Factor markets that exchange the services of the four factors of production -- labor, capital, land, and entrepreneurship.
  • The two sides of the factor market -- factor demand and factor supply.
  • The key role that marginal revenue product plays in factor demand.
  • The key role that marginal facto cost plays in factor supply.
  • How equilibrium applies to factor markets as a balance in the forces of factor demand and factor supply.
  • The role of competition in factor markets and how relatively different competition among buyers and sellers affects the factor market.
  • The role factor markets play in the overall economy as seen through the circular flow.


Course Home | Lesson Menu | Page Back | Page Next

U-SHAPED COST CURVES

The family of short-run cost curves consisting of average total cost, average variable cost, and marginal cost, all of which have U-shapes. Each is U-shaped because it begins with relatively high but falling cost for small quantities of output, reaches a minimum value, then has rising cost at large quantities of output. Although the average fixed cost curve is not U-shaped, it is occasionally included with the other three just for sake of completeness.

Complete Entry | Visit the WEB*pedia


APLS

WHITE GULLIBON
[What's This?]

Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for door-to-door salesmen.
Your Complete Scope

This isn't me! What am I?

A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minuteshould be enjoyed and savored."

-- Earl Nightingale

UNCTAD
United Nations Conference on Trade and Development
A PEDestrian's Guide
Xtra Credit
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2023 AmosWEB*LLC
Send comments or questions to: WebMaster