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INPUT: The resources or factors of production used in the production of a firm's output. This term is most frequently associated with the analysis of short-run production, and is often modified by the terms fixed and variable, as in fixed input and variable input. In the short run, the quantity of a fixed input can not be changed, meaning it can not be used to expand output. In contrast, a variable input can be changed, making it THE means of expanding output in the short run.
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ORANGE REBELOON
Your compete MICRO*scope for today
You are the type of person who takes great pride in being different, in being a contrarian, in being unlike everyone else. Family and friends think of you as somewhat quirky, but generally good natured, albeit argumentative. Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for cardboard boxes. You should consider shopping at stores or businesses beginning with the letter Z, but do not buy any products with a serial number or product code containing the number 882557. Your preferred shopping venue is flea markets. Your special symbol is the backslash (\).
Is this You?
As an Orange Rebeloon, you are very much the rebel and the contrarian. It is your nature to go against the grain. When everyone else is buying, you sell. When everyone else is selling, you buy. You go against the trends. You disdain fashion. If it's hot, you're not. You would march to your own drummer and dance to your own tune, if doing so wasn't so trite and conventional.
This isn't me! What am I?
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REAL-BALANCE EFFECT A change in aggregate expenditures on real production made by the household, business, government, and foreign sectors that results because a change in the price level alters the purchasing power of money. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are interest-rate effect and net-export effect. The real-balance effect is somewhat analogous to the income effect underlying the negative slope of the market demand curve.
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Shopping Around For RETAIL PRICESIt's time for another one of our frequent stops at Mr. Market Super Food Discount Store, this time to check out the story behind retail prices. As consumers, we spend a large fraction of our nonworking, nonsleeping lives wandering grocery stores aisles, searching clothing store racks, and surveying department store displays for the right product at the right price. How do we know, like the name of the long-running game show, if "The Price is Right?" How are retail prices set and do they really tell us the value of a product?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. " -- Henry David Thoreau, philosopher
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PTA
Preferential Trade Agreement
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