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SHORT RUN, MICROECONOMICS: In terms of the microeconomic analysis of production and supply, a period of time in which at least one input in the production process is variable and one is fixed. You should compare and contrast the short run with long-run production, very long run, and market period. In the microeconomic analysis, the short run is primarily used to analyze production decisions for a firm. In this context, the variable input is typically labor and the fixed input is capital. The short-run analysis of production reveals the law of diminishing marginal returns and provides an understanding of the upward-sloping supply curve and the law of supply.
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PRICE: An asset or item voluntarily exchanged in a market transaction for another asset or item. This item or asset is usually, but not necessarily, money. A barter transaction occurs if money is NOT one of the assets or items exchanged. In a standard market diagram, price is displayed on the vertical axis. Price takes on several specific roles in the functioning of a market. On the demand side, the price reflects the willingness and ability of the buyers to purchase a product which is based on the satisfaction received (the demand price). On the supply side, the price reflects the opportunity cost of production (the supply price). Also the variable in the marketing mix where the organization establishes product positioning objectives. These could be low end to capture more market share or high end to differentiate based on perceived product quality and scarcity. Pricing is based on market research to establish what customer wants and needs are in exchange for valued compensation, typically money or bartering. See also | market | exchange | value | asset | money | barter | demand | supply | opportunity cost | demand price | supply price | equilibrium price | quantity demanded | quantity supplied | law of demand | law of supply | change in quantity demanded | change in quantity supplied | shortage | surplus | market adjustment | price competition | pricing strategies | promotional pricing | pricing objectives | product | promotion | distribution | packaging | marketing mix |
Recommended Citation:PRICE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 2, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: price
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BALANCE OF TRADE SURPLUS The positive difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade surplus is the official term for positive net exports that occurs when exports exceed imports. A balance of trade surplus is also termed a "favorable" balance of trade because it results in a net inflow of monetary payments into the domestic economic from the foreign sector, which tends to be beneficial to a country. The alternative is a balance of trade deficit in which imports exceed exports.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for crowded shopping malls.
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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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"always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says: „Here lies Jack Williams. He done his damnedest.¾ I think that is the greatest epitaph a man can have ‚ When he gives everything that is in him to do the job he has before him. That is all you can ask of him and that is what I have tried to do. " -- Harry Truman, 33rd US president
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ARIMA
Autoregressive Integrated Moving Average
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