https://padlet.com/jl2110/ahrz29p5n7eg Review en-us 2016-10-17 14:52:51 UTC 2016-11-14 16:21:54 UTC hello@padlet.com jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168023 Goods intended for final use by consumers rather than business]]> 2016-10-17 14:54:38 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168023 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168190 2016-10-17 14:54:59 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168190 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168335 examples in the US]]> 2016-10-17 14:55:16 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168335 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168568 Owners

Buyers and Sellers

Prices]]> 2016-10-17 14:55:45 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168568 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168830 2016-10-17 14:56:22 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131168830 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169185 Land
Labor
Capital
Entrepreneurship ]]> 2016-10-17 14:57:12 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169185 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169545 The struggle among sellers to attract consumers while lowering prices]]> 2016-10-17 14:57:53 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169545 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169776 The next (second best option ]]> 2016-10-17 14:58:21 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169776 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169910 Shows the different combinations of 2 goods that can be produced using full employment of resources.]]> 2016-10-17 14:58:38 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169910 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169987 Rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship between price and quantity demanded. ]]> 2016-10-17 14:58:48 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131169987 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170087 Rule stating that more will be offered for sale at high prices than at lower prices. ]]> 2016-10-17 14:59:01 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170087 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170173 2016-10-17 14:59:12 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170173 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170404 The extra satisfaction we get from using additional quantities of the product begins to diminish. Because of this, consumers are not as willing to pay for their second, third, and fourth of a certain product. ]]> 2016-10-17 14:59:43 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170404 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170532 -Can be replaced by another product.
Ex. butter and margarine
A rise in the price of margarine would lead to an increase in the demand of butter.]]> 2016-10-17 14:59:57 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170532 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170566 -They are related goods.
Ex. phone and chargers
As the price of iphones increase, then the demand for charges decrease.]]> 2016-10-17 15:00:00 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170566 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170643 Satisfaction or usefulness obtained from acquiring one more unit of product ]]> 2016-10-17 15:00:10 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170643 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170857 2016-10-17 15:00:40 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131170857 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171037 Causes
-Cost of inputs: if the price of inputs drop, producers will produce more of a product, thereby shifting the curve to the right. An increase in the inputs, leads to the shift to the left.
-Productivity: If workers decide to work more efficiently, productivity should increase. Leading to a shift to the right. If workers work less efficiently, then there is a shift to the left.
Technology: New technology tends to shift the supply curve to the right. Equipment could break down and get replaced leading to a shift to the left.
-Taxes and Subsidies: If taxes are raised towards a producer and their company, then their is a shift to the left. If taxes go down, production costs go down, supply then increases and the supply curve shifts to the right. When subsidies are repealed, costs go up, producers leave the market, and the curve shifts to the left. Subsidies lower the cost of production causing a shift to the right.
-Expectations: If producers think the price of the product will go up, they may withhold some of the supply. The supply will decrease, causing a shift to the left. If prices are expected to be lower, then producers produce and sell as much as possible right away, causing the supply to shift to the right.
-Government Regulations: tighter government regulations restrict supply, causing a shift to the left. Relaxed regulations allow producers to lower the cost of production, curve shifts to the right.
-Number of Sellers: More sellers means a shift to the right. Less sellers  means a shift to the left.]]> 2016-10-17 15:01:07 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171037 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171307 Situation where quantity supplied is greater than quantity demanded at a given price.]]> 2016-10-17 15:01:47 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171307 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171388 Lowest legal wage that can be paid to most workers.]]> 2016-10-17 15:01:59 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171388 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171608 general partners: Business jointly owned by two or more persons. Least common form

limited partners: One partner may only help the company through investments]]> 2016-10-17 15:02:28 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171608 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171787 common shareholders

preferred shareholdersw]]> 2016-10-17 15:02:55 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131171787 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172008 Pure

Inadequate]]> 2016-10-17 15:03:22 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172008 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172143 Companies providing essential services such as water and electricity to consumers, usually subject to some government regulations.]]> 2016-10-17 15:03:39 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172143 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172209 Owned by one person and the most common business organization.
-Advantages: keep all profits, easy to start, makes all decisions
Disadvantages: unlimited liability, limited life, difficult to attract top talent, limited access to funds]]> 2016-10-17 15:03:50 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172209 jl2110 https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172294 Where the quantity supplied equals quantity demanded ]]> 2016-10-17 15:04:02 UTC https://padlet.com/jl2110/ahrz29p5n7eg/wish/131172294