And the path of interest and wage rates must be such as to clear ( equate supplies to their respective demands ) these factor markets at each point in time.
12.
They may try but this would involve making higher bids in the factor market which itself is supply-constrained thus raising factor prices and hence the price of goods in general.
13.
"I would say the platelet growth factor market will cap out in the $ 500 million range, " said Richard van den Broeck, an analyst with Hambrecht & AMP; Quist.
14.
They may try but this would involve making higher bids in the factor market which itself is supply-constrained thus raising factor prices and hence the price of goods in general.
15.
Within neo-classicism, the authors addressed consumer behaviour ( in the form of indifference curves and simple versions of revealed preference theory ) and marginalist producer behaviour in both product and factor markets.
16.
It indicates that the producer would be able to utilise spare factor markets ( factors of production ) at its disposal and hence respond to changes in demand to match with supply.
17.
Although the Lange Lerner model was often labelled as " market socialism ", it is better described as " market simulation " because factor markets did not exist for the allocation of capital goods.
18.
However, this relationship breaks down if the firm does not face perfectly competitive factor markets ( i . e ., in this context, the price one pays for a good does depend on the amount purchased ).
19.
According to the Cambridge, England, critics, this analysis is thus a serious challenge, particularly in factor markets, to the neoclassical vision of prices as indices of scarcity and the simple neoclassical version of the principle of substitution.
20.
As a result, social democracy became associated with Keynesian economics, state interventionism, and the welfare state, while abandoning the prior goal of replacing the capitalist system ( factor markets, private property and wage labor ) with a qualitatively different socialist economic system.
