|
LAW OF DEMAND: The inverse relationship between demand price and the quantity demanded, ceteris paribus. This fundamental economic principle indicates that as the price of a commodity decreases, then the quantity of the commodity that buyers are able and willing to purchase in a given period of time, if other factors are held constant, increases. This law is incredibly important to the study of economics. If you compiled a top ten list of economically important laws, the law of demand would be right there at the top.
Visit the GLOSS*arama
|
|
|
|
REAL GROSS DOMESTIC PRODUCT The total market value, measured in constant prices, of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. The key is that real gross domestic product is measured in constant prices, the prices for a specific base year. Real gross domestic product, also termed constant gross domestic product, adjusts gross domestic product for inflation. A contrasting measure is nominal gross domestic product, which does not adjust for inflation.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE [What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a rim for your spare tire or decorative celebrity figurines. 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?
|
|
On a typical day, the United States Mint produces over $1 million worth of dimes.
|
|
"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
|
|
QJE Quarterly Journal of Economics
|
|
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
|
|