|
INDIFFERENCE CURVE: A curve that graphically depicts various combinations of goods that generate the same level of utility to a consumer. In other words, a consumer is "indifferent" among any of the bundles because they all provide the same satisfaction. Indifference curves are combined with a budget line or constraint for indifference curve analysis used to explain many aspects of demand, including the slope of the demand curve and the income and substitution effects.
Visit the GLOSS*arama
|
|

|
|
PRODUCTION INPUTS The resources, or factors of production, used in the production of output by a firm. This term is most frequently associated with the analysis of short-run production, and is often modified by the terms fixed and variable, as in fixed input and variable input. The quantity of a variable input can be changed in the short run and the quantity of a fixed input cannot be changed.
Complete Entry | Visit the WEB*pedia |


|
|
The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
|
|
"What gets measured gets done." -- Peter Drucker, educator
|
|
CLADR Class Life Asset Depreciation Range
|
|
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
|

|