|
|
COMPLEMENT: Two goods that "go together," either in consumption or production. In terms of demand, a complement-in-consumption is one of two goods that are consumed together such that an increase in the price of one good leads to a decrease in demand and a leftward shift in the demand curve for the other good. If the demand of good 1 decreases as the price of good 2 increases, the goods are complements-in-consumption. In terms of supply, a complement-in-production is one of two goods that are produced jointly using the same resources, such that an increase in the price of one good leads to an increase in supply and a rightward shift in the supply curve for the other good. If the supply of good 1 increases as the price of good 2 increases, the goods are complements-in-production.
Visit the GLOSS*arama
|
|
|
|
|
UNSTABLE EQUILIBRIUM Equilibrium that is not restored if disrupted by an external force. Few economic models have an equilibrium that is unstable, reflecting the observation that the real world adapts to changes and maintains a fair degree of stability. However, there are situations where an unstable equilibrium more accurately reflects economic phenomena. The alternative to an unstable equilibrium is a stable equilibrium.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale looking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for telephone calls from long-lost relatives.
Your Complete Scope
This isn't me! What am I?
|
|
|
A half gallon milk jug holds about $50 in pennies.
|
|
|
"He who hesitates is poor. " -- Mel Brooks, writer, director, comedian
|
|
SLLN
Strong Law of Large Numbers
|
|
|
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
|
|
