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It wasn't until Jeremy went to school that his problems became evident to his parents. They just thought Jeremy needed a lot of extra love. According to his mother, "We always thought he would grow out of his odd little habits but it doesn't look like that's happening." Jeremy talked early but walked late, and he always seemed clumsy. Starting as early as the day he began pre kindergarten, Jeremy had no friends. Very early on, Jeremy was interested in computers. His teacher found he would go into great length describing different computer applications and yet Jeremy was unaware of how others would get bored by his "conversations." Jeremy's diagnosis would be:
Perfectly Competitive
A type of market where numerous small firms compete against each other offering products that are virtually interchangeable and where no single company can dictate the market price.
Marginal Productivity
The additional output that is produced by employing one more unit of a particular input, holding other inputs constant.
Income Distribution
The way in which total income is shared among the population or different groups within society.
Substitute Factor
A factor or input that can be used in place of another to produce a good or service.
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