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FINAL GOODS AND SERVICES: Goods and services that are available for purchase by their ultimate or intended user with no plans for further physical transformation or as an input in the production of other goods that will be resold. Gross domestic product seeks to measure the market value of final goods. Final goods are purchased through product markets by the four basic macroeconomic sectors (household, business, government, and foreign) as consumption expenditures, investment expenditures, government purchases, and exports. Final goods, which are closely related to the term current production, should be contrasted with intermediate goods--goods (and services) that will be further processed before reaching their ultimate user.
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for jovial bank tellers.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Don't judge each day by the harvest you reap but by the seeds that you plant. " -- Robert Louis Stephenson, writer
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AVC
Average Variable Cost
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