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November 30, 2022 

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DISEQUILIBRIUM, SHORT-RUN AGGREGATE MARKET: The state of the short-run aggregate market in which real aggregate expenditures are NOT equal to real production, which result in imbalances that induce changes in the price level, aggregate expenditures, and/or real production. In other words, the opposing forces of aggregate demand (the buyers) and short-run aggregate supply (the sellers) are out of balance. Either the four macroeconomic sector (households, business, government, and foreign) buyers are unable to purchase all of the real production that they seek at the existing price level or business-sector producers are unable to sell all of the real production that they have available at the existing price level.

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PRODUCTION: The process of transforming the natural resources of the land into consumer satisfying consumption and capital goods using scarce resources. In a world of scarcity, with unlimited wants and needs and limited resources, living standards are enhanced by transforming the planet's raw materials, that don't provide much satisfaction in their natural state, into goods, that provide more satisfaction.

     See also | resources | factors of production | labor | capital | land | entrepreneurship | limited resources | unlimited wants and needs | scarcity | consumption | living standard | satisfaction | short-run production | output | goods | services | gross domestic product |


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PRODUCTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: November 30, 2022].


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AUTOMATIC TRANSFER SERVICE ACCOUNTS

Deposit accounts offered by commercial banks, credit unions, savings and loan associations, and mutual savings banks that automatically transfer funds from interest-paying savings account to checking accounts when needed to process checks or to maintain minimum balances. Automatic transfer service (ATS) accounts effectively function as interest-paying checking accounts and are considered as one type of checkable deposits. Other checkable deposits are demand deposits (standard checking accounts), negotiable order of withdrawal (NOW) accounts, and share draft accounts.

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