|
|
OCCUPATIONAL MOBILITY: The mobility, or movement, of factors of production from one type of productive activity to another type of productive activity. In particular, occupational mobility is the ease with which resources can change occupations. For example, a worker leaves a job as an accountant to takes a job as a computer programmer. Some factors are highly mobile and thus can easily moved jobs. Other factors are highly immobile and not easily able to switch production activities.
Visit the GLOSS*arama
|
|
|
|
                          
SHORT-RUN SUPPLY CURVE: For a perfectly competitive firm, the marginal cost curve that lies above the average variable cost curve. This segment of the marginal cost guides a perfectly competitive firm's profit maximizing production as it equates price to marginal cost. Because the marginal cost curve is positively sloped (due to the law of diminishing marginal returns), each firm's supply curve and the market supply curve are also positively sloped. The law of diminishing marginal returns thus provides an explanation for the law of supply. However, this only works for firms with NO market control. Monopoly, monopolistic competition, and oligopoly, with market control, do not achieve the same result. See also | short run | supply curve | perfect competition | marginal cost curve | average variable cost curve | profit maximization | price | marginal cost | law of diminishing marginal returns | law of supply | market control | short-run supply curve, monopoly | short-run supply curve, monopolistic competition |
Recommended Citation:SHORT-RUN SUPPLY CURVE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 14, 2025].
Search Again?
Back to the GLOSS*arama
|
|
|
FOUR-SECTOR INJECTIONS-LEAKAGES MODEL A variation of the Keynesian injections-leakages model that adds the foreign sector to the three domestic sectors--the household sector, the business sector, and the government sector. This variation adds the foreign to the three domestic sectors (household, business, and government) in the three-sector model and provides an alternative to the four-sector aggregate expenditures (Keynesian cross). It provides the complete Keynesian representation of the macroeconomy, including the export-import interaction between the domestic economy and the foreign sector. Equilibrium is identified as the intersection between the S + T + M line and the I + G + X line. Two related variations are the two-sector injections-leakages model and the three-sector injections-leakages model.
Complete Entry | Visit the WEB*pedia |
|
|
|
More money is spent on gardening than on any other hobby.
|
|
|
"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus." -- Alexander Graham Bell, inventor
|
|
MBO
Management Buy-Out
|
|
|
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
|
|
