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DEMAND SHOCK: A disruption of market equilibrium (that is, a market adjustment) caused by a change in a demand determinant and a shift of the demand curve. A demand shock can take one of two forms--an Demand Increase or a Demand Decrease. An increase in demand is seen as a rightward shift of the demand curve and results in an increase in equilibrium quantity and an increase in equilibrium price. A decrease in demand is a leftward shift of the demand curve and results in a decrease in equilibrium quantity and a decrease in equilibrium price.
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AVERAGE PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average product, usually abbreviated AP, is found by dividing total product by the quantity of the variable input. Average product, which occasionally goes by the alias average physical product (APP), is one of two measures derived from total product. The other is marginal product.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at an auction seeking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for letters from the Internal Revenue Service.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"No man, for any considerable time, can wear one face to himself and another to the multitude without finally getting bewildered as to which may be true." -- Nathanial Hawthorne, Author
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IBEX-35
Stock Index (Spain)
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