Google
Friday 
May 27, 2022 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
BILATERAL MONOPOLY, FACTOR MARKET ANALYSIS: The analysis of a factor market characterized by monopsony dominating the buying side and monopoly dominating the selling side indicates that the factor price and quantity exchanged depends on the negotiating power of each side. Ironically, the factor price is likely to be closer to the efficient price achieved with perfect competition than that achieved individually by either monopsony or monopoly.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

SUBSTITUTION EFFECT: One of two reasons for law of demand and the negative slope of the market demand curve (the other is the income effect). The substitution effect occurs because a change in the price of a good makes it relatively higher or lower than the prices of other goods that might act as substitutes. A higher price means that a good is more expensive relative to other goods, while a lower price means it's less expensive.

     See also | demand | demand curve | law of demand | slope | quantity demanded | income effect | demand price | substitute |


Recommended Citation:

SUBSTITUTION EFFECT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 27, 2022].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: substitution effect

Search Again?

Back to the GLOSS*arama

AUTONOMOUS GOVERNMENT PURCHASES

Government purchases by the government sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in government purchases. Autonomous government purchases are best thought of as government purchases that the government sector undertake independent of income. They are measured by the intercept term of the government purchases line. The alternative to autonomous government purchases is induced government purchases, which do depend on income.

Complete Entry | Visit the WEB*pedia


APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope

This isn't me! What am I?

Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"He who has a „why¾ to live can bear with almost any „how.""

-- Friedrich Nietzsche, Philosopher

DIDC
Depository Institutions Deregulation Committee
A PEDestrian's Guide
Xtra Credit
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2022 AmosWEB*LLC
Send comments or questions to: WebMaster