|
|
LONG-RUN EQUILIBRIUM: The condition that exists for the aggregate market when the product, financial, and resource markets are in equilibrium simultaneously. This condition is made possible by flexible wages and prices and is represented by the intersection of the AD (aggregate demand) curve and the LRAS (long-run aggregate supply) curve.
Visit the GLOSS*arama
|
|
|
|
|
COMPETITION In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for door-to-door salesmen.
Your Complete Scope
This isn't me! What am I?
|
|
|
In the early 1900s around 300 automobile companies operated in the United States.
|
|
|
"A genius is a talented person who does his homework." -- Thomas Edison
|
|
JEP
Journal of Economic Perspectives
|
|
|
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
|
|
