0
Rate this Study Guide:
☆☆☆☆☆A market supply schedule is a chart that list how much of a good all suppliers will offer at different prices.
business cycles
Yes, but the exact way you would count that money depends on the method of GDP calculation that you use.
1) Perfectly elastic supply
2) Relative elastic supply
3) Unitary elastic supply
4) Relatively in elastic supply
5) Perfectly in elastic supply
Technological advancement can be seen as progress within society. For example, people living better is progress. Another way you can see technological advancement is through the use of advanced devices.
At that rate, each baker is baking 1 cake per hour. So the 12 bakers then can make 12 cakes.
Workers at a major battery factory go on strike and stop production.
If there was a change in the price of batteries would indicate movement along the supply curve. For example if the battery manufacturer raised the price of AA batteries from 3.50 to 3.95 since it would cause movement along the curve. In an ideal economics situation the price would change if the demand shifts or the supply shifts or the change in price will fall back to being equal.
25 percent
lowering the costs of production of a good (novanet)
A unitary-elastic supply indicates a good with a supply-price elasticity of one, which means that a 1% change in price increases supply by 1%.
School Buss Pass
It lowers cost and increases supply.
Because it can hire workers quickly if the price rises.
GDP
As the price of a good rises, the amount of the good supplied rises.
demand pull theory
real GDP
Advantage Rent a Car was created in 1963.
A national census designed to determine it.
A worker’s truck breaks down more often after 80,000 miles of driving.
