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X-M: The abbreviation for net exports, which is the difference between exports, goods and services produced by the domestic economy and purchased by the foreign sector, and imports, goods and services produced by the foreign sector and purchased by the domestic economy. While exports and imports important unto themselves, when combined into a single measure net exports captures the overall interaction between the foreign sector and the domestic economy. Arithmetically speaking, if exports exceed imports, then net exports are positive, and if imports exceed exports, the net exports are negative.
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FACTOR SUPPLY: The willingness and ability of scarce resources or factors of production to offer their services for use in productive activities. Like other types of supply, factor supply relates price and quantity. Specifically, factor supply is the range of factor quantities that are supplied at a range of factor prices. This is one half of the factor market. The other half is factor demand. The factors of production subject to factor supply include any and all of the four scarce resources--labor, capital, land, and entrepreneurship. However, because labor involves human beings directly, it is the factor that tends to receive the most scrutiny and analysis. See also | factors of production | factor market | supply | factor price | labor | capital | land | entrepreneurship | factor supply curve | factor demand |
Recommended Citation:FACTOR SUPPLY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 16, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: factor supply
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TECHNOLOGY The sum of the knowledge and information that society has acquired concerning the use of resources in the production of goods and services. Technology often takes the form of scientific knowledge (the best combination of chemicals to make a long-lasting floor wax), but can also be plain old common sense (irrigate during a drought, not during a flood). Whether scientific or common sense, technology affects the technical efficiency with which resources are combined in production.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for small children selling products door-to-door.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing." -- William A. Ward
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DCFM
Discounted Cash Flow Method
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