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WILLINGNESS TO ACCEPT: The price or dollar amount that someone is willing to receive or accept to give up a good or service. Willingness to accept is the source of the supply price of a good. However, unlike supply price, in which sellers are on the spot of actually giving up a good to receive payment, willingness to accept does not require an actual exchange. This concept is important to benefit-cost analysis, welfare economics, and efficiency criteria, especially Kaldor-Hicks efficiency. A related concept is willingness to pay.
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CURRENT ACCOUNT SURPLUS: An imbalance in a nation's balance of payments current account in which payments received by the country for selling domestic exports are greater than payments made by the country for purchasing imports. In other words, imports (of goods and services) by the domestic economy are less than exports (of goods and services). This is generally a desireable situation for a domestic economy. However, in the wacky world of international economics, a current account surplus is often balanced by a capital account deficit, which is generally considered an undesireable situation. If, however, the capital account does not balance out the current account, then a current account surplus contributes to a balance of payments surplus. See also | current account | balance of payments | balance of payments surplus | current account deficit | capital account | capital account deficit | domestic | foreign | international economics | international finance | foreign exchange |
Recommended Citation:CURRENT ACCOUNT SURPLUS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 9, 2025].
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PRICE CHANGE, UTILITY ANALYSIS A disruption of consumer equilibrium identified with utility analysis caused by changes in the price of a good, which likely results in a change in the quantities of the goods consumed. The change in the price alters the marginal utility-price ratio and forces a reevaluation of the rule of consumer equilibrium.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. " -- Martin Luther King Jr., civil rights leader
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NIA
National Income Accounts
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