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KEYNESIAN THEORY: A theory of macroeconomics developed by John Maynard Keynes built on the proposition that aggregate demand is the primary source of business cycle instability, especially recessions. The basic structure of the Keynesian theory of economics was initially presented in Keynes' book The General Theory of Employment, Interest, and Money (1936).
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NUMBER OF BUYERS, DEMAND DETERMINANT The number of buyers willing and able to buy a good, which is assumed constant when a demand curve is constructed. The number of buyers is one of five demand determinants that shift the demand curve when they change. The other four are buyers' income, buyers' preferences, other prices, and buyers' expectations.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
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ABE
Association of Business Executives
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