单词 | cobweb theorem |
释义 | > as lemmascobweb theorem c. Economics. Used attributively, as in cobweb theorem, etc., with reference to a proposition that changes in the quantity and hence the price of perishable goods in one season affect the quantity and price in subsequent seasons, according to a converging or diverging spiral. ΚΠ 1934 N. Kaldor in Rev. Econ. Stud. I. 134 Where the adjustments are completely discontinuous, stability (or ‘definiteness’) of equilibrium will depend on the relative elasticities of demand and supply; according to what may be called ‘the cobweb theorem’ of Professor Henry Schultz and Professor U. Ricci. 1953 Sloan & Zurcher Dict. Econ. (ed. 3) 56 Cobweb chart, a graphic representation of the conditions that may exist in a competitive market when the sale of a perishable good, requiring a period of time to produce, is confined to a short seasonal demand, but enjoys a fairly constant demand from year to year during that season. 1974 Encycl. Brit. Micropædia II. 1024/3 Characteristic of industries in which relatively large time lapses occur between the decision to produce and the finished product, the cobweb cycle is most commonly found in agricultural markets. 1976 Industr. & Labor Rel. Rev. XXIX. 248/1 Using a cobweb model to explain the supply of new entrants to engineering this study showed that the supply is highly responsive to economic conditions. 1983 G. Bannock et al. Penguin Dict. Econ. (ed. 3) 75 The importance of the cobweb theorem is as one of the earliest and easiest examples of dynamic analysis. < as lemmas |
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