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PATENT: The guaranteed ownership and control of an invention, innovation, or production technique by government for a period of time (currently 17 years). A patent gives the owner the exclusive rights to sell, market, license, or otherwise generate revenue from an invention, innovation, or production technique. Patents are designed to encourage inventions and other developments that promote technological advances. However, they are also an entry barrier and lead to market control.
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Lesson 6: Market Supply | Unit 4: Determinants
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Page: 13 of 19
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Topic:
Shifters: Increase
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Supply determinants shift the supply curve.- The supply curve is drawn assuming that only price and quantity change. The determinants are assumed to be constant.
- A change in one of the determinants can cause:
- An increase in supply, a rightward shift, which means that for any price, for every price, sellers are willing and able to sell more of the good.
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OVEREMPLOYMENT The condition in which resources are more actively engaged in the production of goods and services than they are willing and able to at current prices. This condition is most important for short-run macroeconomic activity and short-run aggregate market analysis. In particular, overemployment is a key reason for the positive slope of the short-run aggregate supply curve. Overemployment is a primary reason the macroeconomy is able to produce MORE than full-employment production in the short run.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Do you want to be safe and good, or do you want to take a chance and be great?" -- Jimmy Johnson, Football Coach
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APT
Arbitrage Pricing Theory
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