The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6
-Because of illegal immigrants, the equilibrium wage rate of unskilled labor falls.
Definitions:
Units Received
Refers to the number of individual items or quantities of a product delivered to a recipient as part of a shipment or order.
Beginning Inventory
The worth of products ready to be sold at the beginning of a financial period.
Net Sales
The revenue generated from goods or services sold by a company after deducting returns, allowances, and discounts.
Markup
The difference between price and a seller’s cost of an item for sale. In dollars, it is the amount added to the cost of the goods in order to have a gross profit high enough to cover operating expenses and to make a net profit.
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