Tag: produced
Quantity Supplied
What is 'Quantity Supplied' In economics, quantity supplied describes the amount of goods or services that are supplied at a given market...
Variable Cost
What is a 'Variable Cost' A variable cost is a corporate expense that varies with production output. Variable costs are those costs...
Underconsumption
DefinitionIn underconsumption theory in economics, recessions and stagnation arise due to inadequate consumer demand relative to the amount produced. It means that there is...
Real Gross Domestic Product (GDP)
What is the 'Real Gross Domestic Product (GDP)' Real gross domestic product (GDP) is an inflation-adjusted measure that reflects the value of...
Gross Domestic Product
DefinitionGross domestic product is a monetary measure of the market value of all the final goods and services produced in a specific time period.GDP...
Variable Cost Ratio
What is the 'Variable Cost Ratio' The variable cost ratio is an expression of a company's variable production costs as a percentage...
Economies of Scale
In microeconomics, economies of scale are the cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output...
Labor Theory Of Value
Labor Theory Of Value What is the 'Labor Theory Of Value ' The labor theory of value was an early attempt...
GDP Price Deflator
What is the 'GDP Price Deflator' GDP price deflator is an economic metric that accounts for inflation by converting output measured at...