|
|
VERY LONG RUN, MICROECONOMICS: A production time period in which all inputs are variable, including those under control of the firm and those beyond the control of the firm. During the very long run, not only are the labor, capital, land, and entrepreneurship inputs variable, but so too are key production inputs such as government rules, technology, and social customs. This is one of four production time periods used in the study of microeconomics. The other three are short run, long run, and very short run.
Visit the GLOSS*arama
|
|

|
|
|
SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
Complete Entry | Visit the WEB*pedia |


|
|
BLUE PLACIDOLA [What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for empty parking spaces that appear to be near the entrance to a store. Your Complete Scope
This isn't me! What am I?
|
|
|
More money is spent on gardening than on any other hobby.
|
|
|
"Do you want to be safe and good, or do you want to take a chance and be great?" -- Jimmy Johnson, Football Coach
|
|
BA Bank Acceptance
|
|
|
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
|

|