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the ontologist
@kaleryd
25
philosophy of wealth
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2018-03-05 08:35
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Wallet
kaleryd
normal
9y
NORMAL PROFIT
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. Any ordinary income increase, given as a result of marketing activities, is a
$ 0.000
0
kaleryd
economic
9y
ECONOMIC PROFIT
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. Extraordinary income increase, due to temporary under-supply or over-demand of
$ 0.000
1
kaleryd
profit
9y
PROFIT / CONSUMER SURPLUS
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. An income increase that comes with the market exchange of goods is profit. The
kaleryd
goods
9y
NORMAL GOODS
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. Normal goods are all commodities which supply and demand is not generally affected
kaleryd
luxury
9y
LUXURY GOODS
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. A commodity attractive in its expensiveness is luxury good. It is much easier
kaleryd
inferior
9y
INFERIOR GOODS
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. A commodity attracting the lowest amount of income is known as inferior good.
kaleryd
income
9y
INCOME EFFECT
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. The income effect conjugates the change in income to the specific function of
kaleryd
income
9y
INCOME
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. All goods acquired through market activities constitute income. It is irrelevant
kaleryd
substitutes
9y
SUBSTITUTIONARY GOODS / SUBSTITUTES
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. The substitution effect presents some commodities as substitutes when they replace
kaleryd
complements
9y
COMPLEMENTARY GOODS / COMPLEMENTS
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. A mutually interdependent existence of the commodities in the substitution effect
kaleryd
substitution
9y
SUBSTITUTION EFFECT
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. Change in the price of a commodity has substituting consequences, as other commodities
kaleryd
elasticity
9y
NORMAL PRICE ELASTICITY
In order to comprehend the ontological construction below, please refer to the respective posts for all notions in italic. Normal price elasticity describes the comparative adjustments of the price and
kaleryd
inelasticity
9y
PERFECT PRICE INELASTICITY
In order to comprehend the ontological construction below, please refer to other my post for all notions in italic. All actual changes in the price of a commodity do not affect its quantity in the case
kaleryd
perfect
9y
PERFECT PRICE ELASTICITY
In order to comprehend the ontological construction below, please refer to other my post for all notions in italic. Perfect price elasticity rules when even very small variation of the price of a commodity
kaleryd
price
9y
PRICE ELASTICITY
In order to comprehend the ontological construction below, please refer to other my post for all notions in italic. Changes in the supply and demand of a commodity in relation to changes of the price of
kaleryd
price
9y
LAW OF SUPPLY AND DEMAND
In order to comprehend the ontological construction below, please refer to other my post for all notions in italic. The law of supply and the law of demand cannot be severed from each other: decreasing
kaleryd
deficit
9y
LAW OF DEMAND
In order to comprehend the ontological construction below, please refer to other my post for all notions in italic. Any price increase of the deficit commodity tends to decrease the demand for it, and
kaleryd
price
9y
LAW OF SUPPLY
A price increase leads to an increase in the quantity of a commodity with that price; and a decrease in the price leads to a decrease in the commodity’s quantity. Increasing price of a product means that
kaleryd
value
9y
PRICE
The ever changing value of commodities in the provisional market equilibrium marks their price. The presence of deficits and surpluses reveals a changing relationship between the goods; which requires
kaleryd
provisional
9y
PROVISIONAL MARKET EQUILIBRIUM
The deficits and surpluses are eliminated in provisional market equilibrium. A deficit of any commodity is inevitably a surplus of the commodity exchangeable for it, because only due to the demand, created
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