|
|
SEASONAL UNEMPLOYMENT: Unemployment is caused by relatively regular and predictable declines in particular industries or occupations over the course of a year, often corresponding with the seasons. Unlike cyclical unemployment, that could occur at any time, seasonal unemployment is an essential part of many jobs. For example, your regular, run-of-the-mill, department store Santa Clause can count on 11 months of unemployment each year. Seasonal unemployment is one of four unemployment sources. The other three are cyclical unemployment, frictional unemployment, and structural unemployment.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 9: Consumer Demand | Unit 1: Demand Theory
|
Page: 4 of 22
|
- Recall that:
- The law of demand states that an inverse relation exists between demand price and the quantity demanded, ceteris paribus.
- According to the law of demand, the demand price that buyers are willing to pay for a good varies inversely with the quantity demanded.
More Than Willingness - Demand depends on more that just the willingness to buy goods:
- Buyers must also be able to buy.
|
|
|
|
|
|
|
MARGINAL RETURNS The change in the quantity of total product resulting from a unit change in a variable input, holding all other inputs fixed. Marginal returns is an older and more generic term for marginal product. While marginal product has largely replaced marginal returns in most discussions of short-run production, the phrase does persist in a few terms like the law of diminishing marginal returns.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction wanting to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for slow moving vehicles with darkened windows.
Your Complete Scope
This isn't me! What am I?
|
|
|
A half gallon milk jug holds about $50 in pennies.
|
|
|
"For a writer, published works are like fallen flowers, but the expected new work is like a calyx waiting to blossom." -- Cao Yu, Playwright
|
|
APP
Average Physical Product
|
|
|
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
|
|
