|
|
DEMAND DECREASE AND SUPPLY INCREASE: A simultaneous decrease in the willingness and ability of buyers to purchase a good at the existing price, illustrated by a leftward shift of the demand curve, and an increase in the willingness and ability of sellers to sell a good at the existing price, illustrated by a rightward shift of the supply curve. When combined, both shifts result in an indeterminant change in equilibrium quantity and a decrease in equilibrium price.
Visit the GLOSS*arama
|
|
|
|
|
FREE-RIDER PROBLEM A problem underlying the provision of public goods that occurs when a person consumes or benefits from a good without making payment. The free-rider problem is the primary reason that public goods are produced by governments. Because public goods are characterized by the inability to exclude nonpayers, once a public good is produced anyone, everyone, can consume without making payment, that is, get a "free ride." Voluntary payments like those occurring in markets will not provide enough revenue to pay production costs. The only way to finance public goods is to force free-riders, and everyone else, to pay through government taxes. The free-rider problem also applies to common-property goods.
Complete Entry | Visit the WEB*pedia |
|
|
BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel seeking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for the last item on a shelf.
Your Complete Scope
This isn't me! What am I?
|
|
|
During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
|
|
|
"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune." -- William James, Psychologist
|
|
PBOT
Phildelphia Board of Trade
|
|
|
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
|
|
