|
|
WHAT?: One of three basic questions of allocation (the other two are How? and For Whom?). Answering the 'What?' question of allocation determines the types and quantities of goods and services produced with society's limited resources. Should society produce hammocks or hot fudge sundaes? Computers or Cadillacs? Birdfeed or battleships? The production possibilities analysis sets the stage for answering the 'What?' question.
Visit the GLOSS*arama
|
|

|
|
|
FIRM OBJECTIVES The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms, however, might not, and many times do not, make decisions based on the profit-maximization objective, or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization, (2) pursuit of personal welfare, and (3) pursuit of social welfare.
Complete Entry | Visit the WEB*pedia |


|
|
PURPLE SMARPHIN [What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for jovial bank tellers. Your Complete Scope
This isn't me! What am I?
|
|
|
Lombard Street is London's equivalent of New York's Wall Street.
|
|
|
"Don't judge each day by the harvest you reap but by the seeds that you plant. " -- Robert Louis Stephenson, writer
|
|
D Demand
|
|
|
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
|

|