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IMMIGRATION: Migration that enters one country from another country. Immigration is usually seen as a problem for existing citizens of nation because--(1) the supply of labor increases, which tends to lower wages, (2) there's a greater demand for public services, which causes taxes to rise, and (3) the culture of immigrants is usually different, which creates all sorts of social conflicts. However, immigration can also be beneficial because--(1) the additional labor is a source of economic growth, (2) the immigrants might be willing to do some jobs that wouldn't be performed otherwise, and (3) some goods can produced at lower cost. Compare emigration.
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PERFECT COMPETITION, TOTAL ANALYSIS: A perfectly competitive firm produces the profit-maximizing quantity of output that generates the greatest difference between total revenue and total cost. This total approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve the direct analysis of economic profit or a comparison of marginal revenue and marginal cost. See also | perfect competition, short-run production analysis | perfect competition, marginal analysis | perfect competition, breakeven output | perfect competition, profit analysis | short-run production alternatives | perfect competition, profit maximization | perfect competition, loss minimization |
Recommended Citation:PERFECT COMPETITION, TOTAL ANALYSIS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: January 15, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: perfect competition, total analysis
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LABOR The mental and physical human efforts used in the production of goods and services. This is one of four basic categories of resources, or factors of production. The other three are capital, land, and entrepreneurship.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for the last item on a shelf.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out." -- President Ronald Reagan
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BOA
Basic Ordering Agreement
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