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REAL-BALANCE EFFECT: A change in aggregate expenditures on real production made by the household, business, government, and foreign sectors that results because a change in the price level alters the purchasing power of money. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are interest-rate effect and net-export effect.
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NATURAL RESOURCES: The naturally occurring resources that are naturally a part of our natural planet which are directed toward production--including land, water, wildlife, vegetation, air, climate, sunshine, mineral deposits, and soil nutrients. Natural resources provide the "stuff" that's used to produce all of the tangible products in the economy, including both consumer goods used for immediate satisfaction of wants and needs and capital used for further production. See also | resources | land | factors of production | labor | capital | entrepreneurship | pollution |
Recommended Citation:NATURAL RESOURCES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: January 28, 2023].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: natural resources
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AVERAGE PRODUCT AND MARGINAL PRODUCT A mathematical connection between average product and marginal product stating that the change in the average product depends on a comparison between the average product and marginal product. If marginal product is less than average product, then average product declines. If marginal product is greater than average product, then average product rises. If marginal product is equal to average product, then average product does not change.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for fairy dust that tastes like salt.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Even a mistake may turn out to be the one thing necessary to a worthwhile achievement." -- Henry Ford
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BCUA
Business Computers Users Association
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