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APPRECIATION: A more or less permanent increase in value or price. "More or less permanent" doesn't include temporary, short-term jumps in price that are common in many markets. Appreciation is only those price increases that reflect greater consumer satisfaction and thus value. While all sorts of stuff can appreciate in value, some of the more common ones are real estate, works of art, corporate stock, and money. In particular, the appreciation of a nation's money is seen by an increase in the exchange rate caused by a growing, expanding, and healthy economy.
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FLEXIBLE PRICES: The proposition that prices adjust in the long run in response to market shortages or surpluses. This condition is most important for long-run macroeconomic activity and long-run aggregate market analysis. In particular, flexible prices are the key reason for the vertical slope of the long-run aggregate supply curve. This proposition is also central to original classical theory of macroeconomics and to modern variations, including rational expectations, new classical theory, and supply-side economics. See also | price | market | short run, macroeconomics | long run, macroeconomics | shortage | surplus | macroeconomics | long-run aggregate market | short-run aggregate market | long-run aggregate supply curve | short-run aggregate supply curve | full-employment production | resource prices | wage | real production |
Recommended Citation:FLEXIBLE PRICES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: December 8, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: flexible prices
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INFERIOR GOOD A good for which a change in income causes an opposite change in demand. That is, an increase in income causes a decrease in demand and a decrease in income causes an increase in demand. The income elasticity of demand for an inferior good is negative. An inferior good is one of two alternatives falling within the buyers' income demand determinant. The other is a normal good.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for attractive cable television service repair people.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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