Definitions of Economic Terms

Q: What are the main determinants of demand?

The main determinants of demand include price, consumer income, tastes and preferences, the prices of related goods (substitutes and complements), and consumer expectations. These factors can significantly influence how much of a good or service consumers are willing to purchase.

Q: What is authoritarian socialism?

Authoritarian socialism is a political and economic system where the government has significant control over the means of production and distribution of goods. This approach often aims to eliminate private property and ensure equal distribution of resources, resembling aspects of communism.

Q: What does the Interstate Commerce Act do?

The Interstate Commerce Act, enacted in 1887, regulates the railroad industry in the United States. It aims to ensure fair rates, prevent discriminatory practices, and establish a framework for overseeing interstate commerce.

Q: What is the capital to labor ratio?

The capital to labor ratio is an economic measure that indicates the amount of capital, such as machinery or equipment, available for each worker in a production process. A higher ratio often suggests greater productivity potential.

Full question:

What is the definition of total product ,determinant of demand , authoritarian socialism , Interstate Commerce Act , Capital to labor ratio please a i need your help to do a project i can't find the definition of those words and it is for my economics class if you be more exactly than you can Thank u so much

Category: Misc
Date: 04/07/2025
State: Florida

Answer:

Here are some dictionaries/glossaries of economic terms:
http://www.google.com/search?q=dictionary+of+economic+terms&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Here are your terms:

Discussion of 'total product':
http://en.wikipedia.org/wiki/Production_theory_basics

http://encarta.msn.com/dictionary_561546852/demand_determinant.html

http://encyclopedia2.thefreedictionary.com/Authoritarian+socialism
(authoritarian socialism is: communism)

http://legal-dictionary.thefreedictionary.com/Interstate+Commerce+Act

http://www.economyprofessor.com/dictionary/capital-labor-ratio.php

Research online is pretty easy. Go to www.google.com. Type any term into the search window and press ENTER. A screen full of links to definitions of that term will appear. Doing this yourself is not hard. Practice it, and it will become easy for you. We are not a tutoring service, and we will be unable to respond to any future requests to help with school work.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

What is total product in economics?

Total product in economics refers to the overall quantity of goods and services produced by a firm or economy from a specific amount of inputs over a designated time period. It helps measure a firm's efficiency and productivity.