How it works

Elasticity of supply — A measure of how responsive producers are to price changes in the marketplace

0
Samuel Vollmers
Random
E
picture loading error handler
116 thought(s)116

Economics

Economics
Samuel Vollmers
Get

Explore more quotes

needs
Samuel Vollmers
5
want
Samuel Vollmers
5
goods
Samuel Vollmers
5
services
Samuel Vollmers
2
scarcity
Samuel Vollmers
3
trade-off
Samuel Vollmers
2
opportunity cost
Samuel Vollmers
2
4 factors of production
Samuel Vollmers
2
land
Samuel Vollmers
2
labor
Samuel Vollmers
1
physical capital
Samuel Vollmers
1
human capital
Samuel Vollmers
1
entrepreneurs
Samuel Vollmers
1
productivity
Samuel Vollmers
1
underutilization
Samuel Vollmers
1
law of diminishing return
Samuel Vollmers
1
incentive
Samuel Vollmers
1
fixed cost
Samuel Vollmers
1
variable cost
Samuel Vollmers
1
total costs
Samuel Vollmers
1
marginal cost
Samuel Vollmers
1
marginal revenue
Samuel Vollmers
1
cost-benefit analysis
Samuel Vollmers
1
specialization
Samuel Vollmers
1
division of labor
Samuel Vollmers
1
assembly line
Samuel Vollmers
technological advances
Samuel Vollmers
blue collar
Samuel Vollmers
white collar
Samuel Vollmers
wage
Samuel Vollmers
salary
Samuel Vollmers
traditional economy
Samuel Vollmers
command economy
Samuel Vollmers
market economy
Samuel Vollmers
mixed economy
Samuel Vollmers
natural resources
Samuel Vollmers
3 Basic Economic Questiosn
Samuel Vollmers
free enterprise
Samuel Vollmers
circular flow of economic activity
Samuel Vollmers
invisible hand
Samuel Vollmers
supply and demand
Samuel Vollmers
equilibrium price
Samuel Vollmers
shortage
Samuel Vollmers
surplus
Samuel Vollmers
price floor
Samuel Vollmers
price ceiling
Samuel Vollmers
competition
Samuel Vollmers
profit motive
Samuel Vollmers