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ANTITRUST LAWS: A series of laws passed by the U. S. government that tries to maintain competition and prevent businesses from getting a monopoly or otherwise obtaining and exerting market control. The first of these, the Sherman Antitrust Act, was passed in 1890. Two others, the Clayton Act and the Federal Trade Commission Act, were enacted in 1914. These laws impose all sorts of restrictions on business ownership, control, mergers, pricing, and how businesses go about competing (or cooperating) with each other.
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LAW OF DIMINISHING MARGINAL RETURNS A principle of short-run production stating that as a firm combines more of a variable input with a fixed input, the marginal product of the variable input eventually declines. This is THE economic principle underlying the analysis of short-run production for a firm. It offers an explanation for the law of supply and the positive slope of the market supply curve.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either a combination CD player, clock radio, and telephone (with answering machine) or a revolving spice rack. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Don't be distracted by criticism. Remember the only taste of success some people have is when they take a bite out of you." -- Zig Ziglar
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