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CASH: the common term for paper currency and metal coins components of the money supply. Cash includes the foldable green paper with portraits of famous dead people, and those shiny metal discs with raised imprints of famous dead people. Cash is often divided into the "cash in circulation" which is what the nonbank public uses for purchases, and "vault cash" which is what banks have stashed away in the large, highly-secured, vaults. Cash in circulation is part of the money supply. Vault cash is part of bank reserves.
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Lesson 6: Market Supply | Unit 1: Selling Basics
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Page: 2 of 19
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There's more we need to consider about supply. First the supply price. Supply price is the minimum price that sellers would be willing and able to accept for a given quantity of a good. - Sellers have an lower limit on the price that they would be willing and able to accept for a good, compared to the upper limit of the demand price.
- Sellers are willing and able to accept a higher price. In fact, they would be glad to sell a good for a billion dollars... or more.
- The minimum supply price is based on the fact of economic life that people prefer more to less.
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AVERAGE TOTAL COST CURVE A curve that graphically represents the relation between average total cost incurred by a firm in the short-run product of a good or service and the quantity produced. The average total cost curve is constructed to capture the relation between average total cost and the level of output, holding other variables, like technology and resource prices, constant. The average total cost curve is one of three average curves. The other two are average variable cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for slow moving vehicles with darkened windows.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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FAMS
Forecasting and Modeling System
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