|
|
KINKED-DEMAND CURVE: A demand curve with two distinct segments with different elasticities that join to form a kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is directly based on the interdependent decision-making of oligopolistic firms.
Visit the GLOSS*arama
|
|

|
|
|
ABSOLUTE ADVANTAGE The general ability to produce more goods or services using fewer resources. A person or country has an absolute advantage in production largely due to superior technology or greater technical efficiency. A related, but contrasting concept is comparative advantage. Both terms are perhaps most important to the study of international trade, but also provide insight into other exchanges.
Complete Entry | Visit the WEB*pedia |


|
|
BROWN PRAGMATOX [What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for neighborhood pets, especially belligerent parrots. Your Complete Scope
This isn't me! What am I?
|
|
|
Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
|
|
|
"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
|
|
AACT American Assocation of Commodity Traders
|
|
|
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
|

|