|
|
EFFICIENCY: Obtaining the most possible satisfaction from a given amount of resources. Efficiency for our economy is achieved when we can not increase our satisfaction of wants and needs by producing more of one good and less of another. This is one of the five economic goals, specifically one of the two micro goals (the other being equity).
Visit the GLOSS*arama
|
|
|
|
|
MONOPOLISTIC COMPETITION, DEMAND The demand curve for the output produced by a monopolistically competitive firm is relatively elastic. The firm can sell a wide range of output within a relatively narrow range of prices. As a price maker, the firm has some ability (not much, but some) to control price. The demand curve is negatively sloped, but relatively elastic, because each firm produces a slightly differentiated product, but faces competition from a large number of very, very close substitutes.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for the happiest person in the room.
Your Complete Scope
This isn't me! What am I?
|
|
|
The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
|
|
|
"Managing intellectual assets has become the single most important task of business. " -- Thomas Stewart, author
|
|
IBB
International Bank Bonds
|
|
|
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
|
|
