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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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AGGREGATE DEMAND DETERMINANTS An assortment of ceteris paribus factors other than the price level that affect aggregate demand, but which are assumed constant when the aggregate demand curve is constructed. Changes in any of the aggregate demand determinants cause the aggregate demand curve to shift. The specific ceteris paribus factors are commonly grouped by the four, broad expenditure categories--consumption expenditures, investment expenditures, government purchases, and net exports.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a rechargeable battery for your cell phone. Be on the lookout for mail order catalogs with hidden messages.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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MFC
Marginal Factor Cost
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