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VARIABLE INPUT: An input whose quantity can be changed in the time period under consideration. This should be immediately compared and contrasted with fixed input. The most common example of a variable input is labor. A variable input provides the extra inputs that a firm needs to expand short-run production. In contrast, a fixed input, like capital, provides the capacity constraint in production. As larger quantities of a variable input, like labor, are added to a fixed input like capital, the variable input becomes less productive. This is, by the way, the law of diminishing marginal returns.
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RESOURCE QUANTITY, AGGREGATE SUPPLY DETERMINANT One of three categories of aggregate supply determinants assumed constant when the short-run and long-run aggregate supply curves are constructed, and which shifts both aggregate supply curves when it changes. An increase in a resource quantity causes an increase (rightward shift) of both aggregate supply curves. A decrease in a resource quantity causes a decrease (leftward shift) of both aggregate supply curves. The other two categories of aggregate supply determinants are resource quality and resource price. Specific determinants falling into this general category include population, labor force participation, capital stock, and exploration. Anything affecting the quantity of labor, capital, land, and entrepreneurship is also included.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking 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 vindictive digital clocks with revenge on their minds.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Rowing harder doesn't help if the boat is headed in the wrong direction. " -- Kenichi Ohmae, management consultant
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NSE
Nagoya Stock Exchange (Japan)
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