Google
Tuesday 
July 15, 2025 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
ALTERNATIVE UNEMPLOYMENT RATES: The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked by the BLS, officially labeled U1-U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be underutilized, including unemployment duration, job losers, discouraged workers, marginally-attached workers, and part-time workers.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

ECONOMIC GOOD: The transformation of limited resources for the purpose of satisfying unlimited wants and needs. You might detect a similarity between the term economic good and the term scarcity. The reason is that "economic good" is another term for scarce good. We call a scarce good an economic good because a scarce good is one that can be traded through markets.

     See also | economics | good | services | scarcity | scarce | limited resources | unlimited wants and needs | scarce good | market |


Recommended Citation:

ECONOMIC GOOD, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 15, 2025].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: economic good

Search Again?

Back to the GLOSS*arama

DECREASING RETURNS TO SCALE

A given proportional change in all resources in the long run results in a proportional smaller change in production. Decreasing returns to scale exists if a firm increases ALL resources--labor, capital, and other inputs--by a given proportion (say 10 percent) and output increases by less than this proportion (that is, less than 10 percent). This is one of three returns to scale. The other two are increasing returns to scale and constant returns to scale.

Complete Entry | Visit the WEB*pedia


APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time watching infomercials trying to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for neighborhood pets, especially belligerent parrots.
Your Complete Scope

This isn't me! What am I?

The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"The time to repair the roof is when the sun is shining."

-- John F. Kennedy, 35th U. S. president

WAPM
Weak Axiom of Profit Maximization
A PEDestrian's Guide
Xtra Credit
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2025 AmosWEB*LLC
Send comments or questions to: WebMaster