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RELATIVELY ELASTIC: An elasticity alternative in which relatively small changes in price cause relatively large changes in quantity. In other words, quantity is very responsive to price. Relatively elastic should be compared with other elasticity alternatives--relatively inelastic, perfectly inelastic, perfectly elastic, and unit elastic.

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DISPOSABLE INCOME: The total income that can be used by the household sector for either consumption or saving during a given period of time, usually one year. This is the income left over after income taxes and social security taxes are removed and government transfer payments, like welfare, social security benefits, or unemployment compensation are added.

     See also | income | personal income | taxes | income tax | Social Security | transfer payments | welfare | unemployment compensation | national income | National Income and Product Accounts | disposable personal income | Bureau of Economic Analysis |


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DISPOSABLE INCOME, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: December 6, 2023].


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MARGINAL COST AND MARGINAL PRODUCT

The U-shape of the marginal cost curve is closely related to the hump-shape of the marginal product curve. The increasing portion of the marginal product curve corresponds with the decreasing portion of the marginal cost curve. The decreasing portion of the marginal product curve corresponds with the increasing portion of the marginal cost curve. The peak of the marginal product curve corresponds with the minimum of the marginal cost curve.

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Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for cardboard boxes.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
"Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness."

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