|
|
HOMOGENEOUS GOOD: Goods that are either physically identical or at least viewed as identical by buyers. In particular, the producer of a good can not be identified from the good itself. This is a key assumption underlying the perfect competition market structure, and like other assumptions is only approximated in the real world. Agricultural products, metals, and energy goods come as close as any in the real world.
Visit the GLOSS*arama
|
|
|
|
|
INELASTIC DEMAND The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity demanded. Large changes in price cause relatively small changes in quantity demanded or the percentage change in quantity demanded is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of demand. Inelastic demand is one of two general elasticity relations for demand. The other is elastic demand.
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 wanting to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for high interest rates.
Your Complete Scope
This isn't me! What am I?
|
|
|
Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
|
|
|
"If we all did the things we are capable of doing, we would literally astound ourselves." -- Thomas Edison
|
|
EFTA
European Free Trade Association
|
|
|
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
|
|
