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FACTOR ACCUMULATION: An increase in the quantity of the four basic factors used to produce goods and services in the economy--labor, capital, land, and entrepreneurship. Increases in these "factors of production" enable an economy to produce more goods and services and therefore the long-run expansion of the economy's ability to produce output--that is, economic growth. Economic growth however, is made possible not only by increasing the quantity of the economy's resources, but also by increasing their quality.
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DETERMINANTS Ceteris paribus factors that are held constant when a curve is constructed. Changes in these factors then cause the curve to shift to a new location. The most common determinants are demand determinants for the demand curve and supply determinants for the supply curve. Other curves used in the analysis of economics also have notable determinants, including the production possibilities curve, the aggregate demand curve, the aggregate supply curve, and the short-run average cost curve.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for fairy dust that tastes like salt.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"The art of leadership is saying no, not yes. It is very easy to say yes. " -- Tony Blair, British prime minister
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BST
Bulk Supply Tariff
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