Principles and Problems of Modern Economics |
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Page 86
... supply side . The word supply has many meanings . We want to examine precisely what meaning will be useful to us in economics . Often we think of a supply of something as a stock of articles that we have on hand - the supply of clean ...
... supply side . The word supply has many meanings . We want to examine precisely what meaning will be useful to us in economics . Often we think of a supply of something as a stock of articles that we have on hand - the supply of clean ...
Page 87
... Supply Supply curves are in general upward sloping , but again , some are more upward sloping than others . Some may have relatively steep slopes . In such instances a change in price produces ... SUPPLY AND DEMAND 87 Elasticity of supply.
... Supply Supply curves are in general upward sloping , but again , some are more upward sloping than others . Some may have relatively steep slopes . In such instances a change in price produces ... SUPPLY AND DEMAND 87 Elasticity of supply.
Page 88
William A. Koivisto. Price A , completely Inelastic supply B , infinitely elastic supply Quantity Figure 4.15 . Elasticity of supply . in the quantity . As the supply curve tends toward this horizontal posi- tion , we say elasticity of ...
William A. Koivisto. Price A , completely Inelastic supply B , infinitely elastic supply Quantity Figure 4.15 . Elasticity of supply . in the quantity . As the supply curve tends toward this horizontal posi- tion , we say elasticity of ...
Contents
The Development of Modern Economic Problems | 23 |
Economic | 39 |
A Simple Model of the Economy | 53 |
Copyright | |
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Adam Smith agricultural amount areas assets average bank become billion capital commodity consumer consumption corporation cost curve cycle debt demand curve depression diagram discussion dollar economists economy effect efficiency elasticity enterprise equal equilibrium example expenditures exports factor factors of production farmers Federal Reserve Figure firm full employment gold higher important increase indifference curve individual industry inelastic inflation interest rate investment labor large number less manufacturing marginal cost marginal product marginal revenue means ment mercantilists merely monetary monopolistic competition multiplier national income operations organized output payments percent problem profits purchase pure competition quantity ratio real income reduce rent reserve ratios result saving schedule sell situation slope social spending sumer supply and demand supply curve surplus tariff taxes tend theory tion trade union United wages workers