|
BANK PANIC OF 1907: A relatively serious economic downturn, that is business-cycle contraction, in 1907 that was caused by serious, big-time, instability in the banking system. This major bank panic was so severe (the term depression is more applicable than recession) that it prompted Congress to establish the Federal Reserve System, which came into existence in 1913. See fractional-reserve banking.
Visit the GLOSS*arama
|
|

|
|
                          
PERFECT COMPETITION, REVENUE DIVISION: The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side. See also | perfect competition, profit maximization | perfect competition, loss minimization | perfect competition, short-run supply curve | short-run production alternatives | breakeven output |  Recommended Citation:PERFECT COMPETITION, REVENUE DIVISION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 13, 2025]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: perfect competition, revenue division
Search Again?
Back to the GLOSS*arama
|
|
FACTOR DEMAND ELASTICITY The elasticity of a factor demand curve is affected by four items: (1) the price elasticity of demand for the good produced, (2) the production function technology and elasticity of marginal physical product, (3) the ease of factor substitutability, and (4) the share of the factor's cost relative to total cost. Changes in any of these four items cause the price elasticity of factor demand to change. In other words, the quantity of factor services demanded becomes more or less sensitive to changes in the factor price.
Complete Entry | Visit the WEB*pedia |


|
|
BEIGE MUNDORTLE [What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for rusty deck screws. Your Complete Scope
This isn't me! What am I?
|
|
The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
|
|
"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
|
|
MSCI Morgan Stanley Capital Index
|
|
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
|

|