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June 19, 2025 

AmosWEB means Economics with a Touch of Whimsy!

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ECONOMIST: A individual, usually a homo sapien, who has received extensive training in economic theories, applications, and analysis and whose primary employment involves the research, teaching, consulting, and other applications of this economic training. Many economists are employed by institutions of higher education for the expressed purpose of enlightening impressionable college students in the wily ways of economic analysis. Other economists are employed by government agencies -- federal, state, and local -- for the expressed purpose of applying economic analysis to important policy decisions.

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HETEROGENEOUS: A market characterized by buyers with different needs and wants. A company utilizes a concentrated targeting strategy for this group. This market requires the company to divided the market into groups by a process called market segmentation. The company then develops a different marketing mix to satisfy each of these groups or segments.

     See also | concentrated | targeting strategy | marketing mix | market | segmentation | segments |


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HETEROGENEOUS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 19, 2025].


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CONSTANT RETURNS TO SCALE

A given proportional change in all resources in the long run results in the same proportional change in production. Constant returns to scale exists if a firm increases ALL resources--labor, capital, and other inputs--by 10 percent, and output also increases by 10 percent. This is one of three returns to scale. The other two are increasing returns to scale and decreasing returns to scale.

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Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for strangers with large satchels of used undergarments.
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More money is spent on gardening than on any other hobby.
"The will to win is important, but the will to prepare is vital. "

-- Joe Paterno, football coach

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