|
|
FACTOR MARKET EQUILIBRIUM: Equilibrium in the factor market, which for a perfectly competitive market is achieved at the factor price and factor quantity give by the intersection of the factor demand curve and the factor supply curve. For factor markets that are not perfectly competitive, such as those controlled by monopoly or monopsony, factor market equilibrium is achieved when the controlling firm maximizes profit. For monopoly, this is the factor quantity that equates marginal revenue and marginal cost. For monopsony, this is the factor quantity that equates marginal revenue product with marginal factor cost. But regardless of marginal structure, as an equilibrium it is maintained until shocked by an external force.
Visit the GLOSS*arama
|
|
|
|
|
NET EXPORTS The difference between exports--goods and services produced by the domestic economy and purchased by the foreign sector--and imports--goods and services produced by the foreign sector and purchased by the domestic economy. These are one of four aggregate expenditures on gross domestic product. The other three are consumption expenditures, investment expenditures, and government purchases.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for slow moving vehicles with darkened windows.
Your Complete Scope
This isn't me! What am I?
|
|
|
A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
|
|
|
"Stand up to your obstacles and do something about them. You will find that they haven't half the strength you think they have." -- Norman Vincent Peale
|
|
QML
Quasi-Maximum Likelihood
|
|
|
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
|
|
