|
|
FACTOR SUPPLY: The willingness and ability of scarce resources or factors of production to offer their services for use in productive activities. Like other types of supply, factor supply relates price and quantity. Specifically, factor supply is the range of factor quantities that are supplied at a range of factor prices. This is one half of the factor market. The other half is factor demand. The factors of production subject to factor supply include any and all of the four scarce resources--labor, capital, land, and entrepreneurship. However, because labor involves human beings directly, it is the factor that tends to receive the most scrutiny and analysis.
Visit the GLOSS*arama
|
|

|
|
|
MARGINAL FACTOR COST, MONOPSONY The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
Complete Entry | Visit the WEB*pedia |


|
|
BROWN PRAGMATOX [What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for broken fingernail clippers. Your Complete Scope
This isn't me! What am I?
|
|
|
Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
|
|
|
"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
|
|
DRR Discounted Rate of Return
|
|
|
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
|

|