|
|
LAW OF DIMINISHING MARGINAL UTILITY: The principle stating that as more of a good is consumed, eventually each additional unit of the good provides less additional utility--that is, marginal utility decreases. Each subsequent unit of a good is valued less than the previous one. The law of diminishing marginal utility helps explain the negative slope of the demand curve and the law of demand.
Visit the GLOSS*arama
|
|
|
|
|
MARKET ADJUSTMENT The economic analysis of changes in market equilibrium caused by changes in any of the five demand determinants and/or the five supply determinants. Market adjustment comes in one of eight varieties, given that the two curves comprising the market (demand curve and supply curve) can either increase or decrease, individually or simultaneously. Four adjustments involve a shift of EITHER the demand curve OR the supply curve. The other four adjustments involve shifts of BOTH the demand curve AND the supply curve.
Complete Entry | Visit the WEB*pedia |
|
|
BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for a thesaurus filled with typos.
Your Complete Scope
This isn't me! What am I?
|
|
|
Two and a half gallons of oil are needed to produce one automobile tire.
|
|
|
"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
|
|
AIBD
Association of International Bond Dealers (now called International Securities Market Association)
|
|
|
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
|
|
