|
|
DEMAND CURVE: A graphical representation of the relationship between the demand price and quantity demanded (that is, the law of demand), holding all ceteris paribus demand determinants constant.
Visit the GLOSS*arama
|
|
|
|
|
GOOD TYPES The economy produces four distinct types of goods based on two key characteristics -- consumption rivalry and nonpayer excludability. Consumption rivalry arises if consumption of a good by one person prevents another from also consuming. Nonpayer excludability means potential consumers who do not pay for a good can be excluded from consuming. Private goods are rival in consumption and easily subject to the exclusion of nonpayers. Public goods are nonrival in consumption and the exclusion of nonpayers is virtually impossible. Near-public goods are nonrival in consumption and easily subject to exclusion. Common-property goods are rival in consumption and not easily subject to exclusion. Private goods can be efficiently exchanged through markets. Public, near-public and common-property goods cannot, but require some degree of government involvement for efficiency.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope
This isn't me! What am I?
|
|
|
The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
|
|
|
"Leadership is based on inspiration, not domination; on cooperation, not intimidation. " -- William A. Ward
|
|
SPE
Subgame Perfect Equilibrium
|
|
|
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
|
|
