|
MACROECONOMIC MARKETS: Three sets of markets that make up the macroeconomy--product, financial, and resource--which exchange the three primary types of macroeconomic commodities--gross production, legal claims, and factor services. The four macroeconomic sectors--household, business, government, and foreign--interact through these three sets of markets. The primary objective of macroeconomic theories is to explain activity that takes place in these three sets of markets.
Visit the GLOSS*arama
|
|

|
|
Lesson 7: Market Equilibrium | Unit 2: The Numbers
|
Page: 8 of 22
|
What would happen if buyers and sellers faced a price of 50 cents?- At 50 cents, the quantity demanded is 400 tapes.
- At 50 cents, the quantity supplied is 400 tapes.
- The quantity demanded is the same as the quantity supplied at this 50 cent price.
- This IS equilibrium.
- This equilibrium price and equilibrium quantity will remain until something else changes.
- This 50 cent price is the only one that matches the quantity demanded and the quantity supply
|
|
|
|
|
|
SHORT-RUN PRODUCTION ANALYSIS An analysis of the production decision made by a firm in the short run, with the ultimate goal of explaining the law of supply and the upward-sloping supply curve. The central feature of this short-run production analysis is the law of diminishing marginal returns, which results in the short run when larger amounts of a variable input, like labor, are added to a fixed input, like capital. A contrasting analysis is long-run production analysis.
Complete Entry | Visit the WEB*pedia |


|
|
GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for the last item on a shelf. Your Complete Scope
This isn't me! What am I?
|
|
In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
|
|
"Intense concentration hour after hour can bring out resources in people they didn't know they had. " -- Edwin Land, inventor, entrepreneur
|
|
BNA Bureau of National Affairs
|
|
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
|

|