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Economics: Difference between revisions
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'''[[w:Diseconomies of scale]]''' are the forces that cause larger firms and governments to produce goods and services at increased per-unit costs. The concept is the opposite of economies of scale. ( Wikipedia ) | '''[[w:Diseconomies of scale]]''' are the forces that cause larger firms and governments to produce goods and services at increased per-unit costs. The concept is the opposite of economies of scale. ( Wikipedia ) | ||
In economics, '''[[w:returns to scale]]''' and economies of scale are related terms that describe what happens as the scale of production increases in the long run, when all input levels including physical capital usage are variable (chosen by the firm). | In economics, '''[[w:returns to scale]]''' ( [[w:fi:Skaalaetu]] ) and economies of scale are related terms that describe what happens as the scale of production increases in the long run, when all input levels including physical capital usage are variable (chosen by the firm). | ||
'''[[w:Utility]]''' to [[w:consumer]] is a representation of preferences over some set of goods and services. ( Wikipedia ) | '''[[w:Utility]]''' ( [[w:fi:Hyöty]] ) to [[w:consumer]] is a representation of preferences over some set of goods and services. ( Wikipedia ) | ||
::::'''[[w:Marginal utility]]''' - In economics, the marginal utility of a good or service is the gain (or loss) from an increase (or decrease) in the consumption of that good or service. ( Wikipedia ) | ::::'''[[w:Marginal utility]]''' ( [[w:fi:Rajahyöty]] ) - In economics, the marginal utility of a good or service is the gain (or loss) from an increase (or decrease) in the consumption of that good or service. ( Wikipedia ) | ||
'''[[w:Elasticity (economics)]]''' is the measurement of how changing one economic variable affects others. ( Wikipedia ) | '''[[w:Elasticity (economics)]]''' ( [[w:fi:Jousto]] ) is the measurement of how changing one economic variable affects others. ( Wikipedia ) | ||
::::'''[[w:Price elasticity of demand]]''' (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price. ( Wikipedia ) | ::::'''[[w:Price elasticity of demand]]''' ( [[w:fi:Kysynnän hintajousto]] ) (PED or Ed) is a measure used in economics to show the responsiveness, or elasticity, of the quantity demanded of a good or service to a change in its price. ( Wikipedia ) | ||
::::'''[[w:Price elasticity of supply]]''' (PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price. ( Wikipedia ) | ::::'''[[w:Price elasticity of supply]]''' (PES or Es) is a measure used in economics to show the responsiveness, or elasticity, of the quantity supplied of a good or service to a change in its price. ( Wikipedia ) | ||
::::'''[[w:Income elasticity of demand]]''' measures the responsiveness of the demand for a good to a change in the income of the people demanding the good, ceteris paribus. | ::::'''[[w:Income elasticity of demand]]''' ( [[w:fi:Kysynnän tulojousto]] ) measures the responsiveness of the demand for a good to a change in the income of the people demanding the good, ceteris paribus. | ||
::::'''[[w:Cross elasticity of demand]]''' or cross-price elasticity of demand measures the responsiveness of the demand for a good to a change in the price of another good. ( Wikipedia ) | ::::'''[[w:Cross elasticity of demand]]''' or cross-price elasticity of demand measures the responsiveness of the demand for a good to a change in the price of another good. ( Wikipedia ) | ||
:::::: There are more elasticies in the [[w:Elasticity (economics)]] | :::::: There are more elasticies in the [[w:Elasticity (economics)]] | ||