|
NATURAL UNEMPLOYMENT RATE: The rate of unemployment that occurs when the economy is at full employment. This rate is primarily composed of frictional and structural unemployment.
Visit the GLOSS*arama
|
|

|
|
                          
WILLINGNESS TO ACCEPT: The price or dollar amount that someone is willing to receive or accept to give up a good or service. Willingness to accept is the source of the supply price of a good. However, unlike supply price, in which sellers are on the spot of actually giving up a good to receive payment, willingness to accept does not require an actual exchange. This concept is important to benefit-cost analysis, welfare economics, and efficiency criteria, especially Kaldor-Hicks efficiency. A related concept is willingness to pay. See also | supply price | efficiency | willingness to pay | benefit-cost analysis | welfare economics | Kaldor-Hicks efficiency | Pareto efficiency | externality | market failure |  Recommended Citation:WILLINGNESS TO ACCEPT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 1, 2025].
Search Again?
Back to the GLOSS*arama
|
|
INCREASING MARGINAL RETURNS In the short-run production by a firm, an increase in the variable input results in an increase in the marginal product of the variable input. Increasing marginal returns typically surface when the first few quantities of a variable input are added to a fixed input. This is one of two alternatives for marginal returns. The other is decreasing marginal returns. A related phenomenon for long-run production is increasing returns to scale.
Complete Entry | Visit the WEB*pedia |


|
|
BLUE PLACIDOLA [What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for vindictive digital clocks with revenge on their minds. Your Complete Scope
This isn't me! What am I?
|
|
The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
|
|
"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
|
|
S&D Supply and Demand
|
|
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
|

|