Demand (economics) — Demand redirects here. For other uses, see Demand (disambiguation). In economics, demand is the desire to own anything, the ability to pay for it, and the willingness to pay[1] (see also supply and demand). The term demand signifies the ability… … Wikipedia
Demand curve — An example of a demand curve shifting In economics, the demand curve is the graph depicting the relationship between the price of a certain commodity, and the amount of it that consumers are willing and able to purchase at that given price. It is … Wikipedia
Supply and demand — For other uses, see Supply and demand (disambiguation). The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a… … Wikipedia
function — /fungk sheuhn/, n. 1. the kind of action or activity proper to a person, thing, or institution; the purpose for which something is designed or exists; role. 2. any ceremonious public or social gathering or occasion. 3. a factor related to or… … Universalium
Price elasticity of demand — Not to be confused with Price elasticity of supply. PED is derived from the percentage change in quantity (%ΔQd) and percentage change in price (%ΔP). Price elasticity of demand (PED or Ed) is a measure used in economics to show the… … Wikipedia
Green's function — In mathematics, Green s function is a type of function used to solve inhomogeneous differential equations subject to boundary conditions. The term is used in physics, specifically in quantum field theory and statistical field theory, to refer to… … Wikipedia
Markup rule — The Markup rule is used in economics to explain firm pricing decisions. It states that the price a firm with market power will charge is equal to a markup over the firm s marginal cost, equal to one over one minus the inverse of the price… … Wikipedia
Profit (economics) — In economics, the term profit has two related but distinct meanings. Normal profit represents the total opportunity costs (both explicit and implicit) of a venture to an entrepreneur or investor, whilst economic profit (also abnormal, pure,… … Wikipedia
Ramsey problem — The Ramsey problem or Ramsey Boiteux pricing, is a policy rule concerning what price a monopolist should set, in order to maximize social welfare, subject to a constraint on profit. A closely related problem arises in relation to optimal taxation … Wikipedia
Monopoly — This article is about the economic term. For the board game, see Monopoly (game). For other uses, see Monopoly (disambiguation). Competition law Basic concepts … Wikipedia
