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ECONOMIES OF SCOPE: A production process in which it is cheaper to produce two (or more) products together rather than separately. This property is also termed joint production. For example the production of beef also results in the production of leather and the production of lumber also results in the production of sawdust. Economies of scope can be beneficial, that is, giving a producer multiple products to sell. But it can also be problematic when one of the joint products is undesirable, such as pollution or waste residual.
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INFLATIONARY EXPECTATIONS, AGGREGATE EXPENDITURES DETERMINANT: One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. An increase in inflationary expectations causes an increase (upward shift) of the aggregate expenditures line. A decrease in inflationary expectations causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include interest rates, federal deficit, consumer confidence, and exchange rates. See also | aggregate expenditures determinants | interest rates, aggregate expenditures determinant | federal deficit, aggregate expenditures determinant | consumer confidence, aggregate expenditures determinant | exchange rates, aggregate expenditures determinant | physical wealth, aggregate expenditures determinant | financial wealth, aggregate expenditures determinant | change in aggregate expenditures | change in aggregate demand | slope, aggregate expenditures line | intercept, aggregate expenditures line | aggregate expenditures | aggregate expenditures line | determinants | gross domestic product | consumption expenditures | investment expenditures | government purchases | net exports | Keynesian economics | effective demand | psychological law | inflation | price level | aggregate market analysis | business cycles | circular flow | monetary economics | aggregate market shocks | inflationary expectations, aggregate demand determinant | buyers' expectations, demand determinant | Keynesian model | Keynesian equilibrium | injections-leakages model | aggregate demand | aggregate demand determinants | fiscal policy | monetary policy | multiplier |
Recommended Citation:INFLATIONARY EXPECTATIONS, AGGREGATE EXPENDITURES DETERMINANT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 25, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: inflationary expectations, aggregate expenditures determinant
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PRICE ELASTICITY OF DEMAND The relative response of a change in quantity demanded to a change in price. More specifically the price elasticity of demand is the percentage change in quantity demanded due to a percentage change in price. This notion of elasticity captures the demand side of the market. A comparable elasticity on the supply side is the price elasticity of supply. Other notable demand elasticities are income elasticity of demand and cross elasticity of demand.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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AR(N)
A nth-order Autoregressive Process
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