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Mark Lorenzo

added article Financial Services
2023-02-27 16:37:09 -

Economic efficiency
Key Points Economic efficiency is the idea that it is impossible to improve the situation of one party without imposing a cost on another. If a situation is economically inefficient, it becomes possible to benefit at least one party without imposing costs on others. Consumer surplus is the gap between the price that consumers are willing to...

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Mark Lorenzo

added article Financial Services
2023-02-28 15:42:51 -

Elasticity and tax revenue
Key points Tax incidence is the manner in which the tax burden is divided between buyers and sellers. The tax incidence depends on the relative price elasticity of supply and demand. When supply is more elastic than demand, buyers bear most of the tax burden. When demand is more elastic than supply, producers bear most of the cost of the tax. Tax revenue is larger...

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Mark Lorenzo

added article Financial Services
2023-03-01 17:29:34 -

Elasticity in areas other than price
Key points Elasticity is a general term, referring to percentage change of one variable divided by percentage change of a related variable that can be applied to many economic connections. Elasticity applies in labor markets and financial capital markets just as it does in markets for goods and services. Cross-price elasticity of demand is the percentage change in...

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Mark Lorenzo

added article Financial Services
2023-02-17 16:48:50 -

Elasticity in the long run and short run
Key points In the market for goods and services, quantity supplied and quantity demanded are often relatively slow to react to changes in price in the short run, but they react more substantially in the long run. As a result, demand and supply often—but not always—tend to be relatively inelastic in the short run and relatively elastic in the long run....

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Mark Lorenzo

added article Financial Services
2023-02-23 18:34:44 -

Explicit and implicit costs and accounting and economic profit
Key points Privately owned firms are motivated to earn profits. Profit is the difference between revenues and costs. Private enterprise is the ownership of businesses by private individuals. Production is the process of combining inputs to produce outputs, ideally of a value greater than the value of the inputs. Revenue is income from selling a...

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Leonard Pokrovski

added article Science Fiction and Fantasy
2023-07-18 22:15:55 -

Harry Potter 20th Anniversary: Return to Hogwarts (2022)
Cast members from all "Harry Potter" films reunite in a retrospective special to celebrate the anniversary of the first film, including interviews and cast conversations. My Link

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Mark Lorenzo

added article Financial Services
2023-02-21 15:16:17 -

How perfectly competitive firms make output decisions
Key points As a perfectly competitive firm produces a greater quantity of output, its total revenue steadily increases at a constant rate determined by the given market price. Profits will be highest—or losses will be smallest—for a perfectly competitive firm at the quantity of output where total revenues exceed total costs by the greatest amount, or where total...

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Mark Lorenzo

added article Financial Services
2023-03-08 17:45:51 -

Interpreting the aggregate demand/aggregate supply model
Key points The aggregate demand/aggregate supply model is a model that shows what determines total supply or total demand for the economy and how total demand and total supply interact at the macroeconomic level. Aggregate supply is the total quantity of output firms will produce and sell—in other words, the real GDP. Aggregate demand is the...

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Leonard Pokrovski

added article Science Fiction and Fantasy
2023-01-09 20:23:01 -

Star Wars: Episode VI - Return of the Jedi. (1983)
After a daring mission to rescue Han Solo from Jabba the Hutt, the Rebels dispatch to Endor to destroy the second Death Star. Meanwhile, Luke struggles to help Darth Vader back from the dark side without falling into the Emperor's trap. Star Wars: Episode IV - A New Hope. (1977) Star Wars: Episode V - The Empire Strikes Back. (1980) My link

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Mark Lorenzo

added article Financial Services
2023-02-24 17:17:03 -

Supply and its determinants
The law of supply The law of supply states that there is a positive relationship between price and quantity supplied, leading to an upward-sloping supply curve. Sellers like to make money, and higher prices mean more money! For example, let’s say that fishermen notice the price of tuna rising. Because higher prices will make them more money, fishermen spend more...

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