|
|
NEEDS STANDARD: One of three basic income distribution standards (the other two are contributive standard and equality standard). The needs standard distributes income based on how many goods and services people require. A manual laborer, for example, who exerts more physical effort, would receive more income to buy more food that an office worker who burns fewer calories during the day. The U.S. welfare system primarily employs this needs standard when determining the poverty line and subsequent welfare payments.
Visit the GLOSS*arama
|
|
|
|
|
PRICE ELASTICITY OF DEMAND The relative response of a change in quantity demanded to a change in price. More specifically the price elasticity of demand is the percentage change in quantity demanded due to a percentage change in price. This notion of elasticity captures the demand side of the market. A comparable elasticity on the supply side is the price elasticity of supply. Other notable demand elasticities are income elasticity of demand and cross elasticity of demand.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for small children selling products door-to-door.
Your Complete Scope
This isn't me! What am I?
|
|
|
The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
|
|
|
"Our vision controls the way we think and, therefore, the way we act . . . The vision we have of our jobs determines what we do and the opportunities we see or don't see. " -- Charles Koch, executive
|
|
S
Supply
|
|
|
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
|
|
