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CHANGE IN QUANTITY SUPPLIED: The movement along a supply curve caused by a change in the price of the good. This should be contrasted directly with a change in supply. You might also want to review the terms change in quantity demanded and change in demand, as well. A change in quantity supplied means that we have identified a NEW quantity on the existing supply curve. In contrast, a change in supply means that we have changed, moved, or shifted, the entire supply curve, the whole range of prices and quantities has changed.
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NEEDS STANDARD An income distribution standard in which income is divided among members of society based on how much production each person requires to maintain a given living standard. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the contributive standard and the equality standard.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"You miss 100% of the shots you never take. " -- Wayne Gretzky, hockey player
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LWOP
Leave Without Pay
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