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QUASI-PUBLIC GOOD: A good that is easy to keep nonpayers from consuming, but use of the good by one person does not prevent use by others. Also termed a near-public good,the trick with a quasi-public good is that it is easy to keep people away, and thus you can charge them a price for consuming, but there is no real good reason to do so. From an efficiency view, the more people who consume a quasi-public good, the better off society. This mixture of nearly unlimited benefits and the ability to charge a price means that some quasi-public goods are sold through markets and others are provided by government. For efficiency's sake, none should be sold through markets.
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FACTOR DEMAND ELASTICITY The elasticity of a factor demand curve is affected by four items: (1) the price elasticity of demand for the good produced, (2) the production function technology and elasticity of marginal physical product, (3) the ease of factor substitutability, and (4) the share of the factor's cost relative to total cost. Changes in any of these four items cause the price elasticity of factor demand to change. In other words, the quantity of factor services demanded becomes more or less sensitive to changes in the factor price.
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PINK FADFLY
[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 coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for a thesaurus filled with typos.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Something in human nature causes us to start slacking off at our moment of greatest accomplishment. As you become successful, you will need a great deal of self-discipline not to lose your sense of balance, humility and commitment." -- H. Ross Perot
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VSE
Vancouver Stock Exchange (Canada)
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