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IMPORT QUOTA: A limit on the importation of a particular good brought into one country from another country. An import quota, for example, would stipulate something like only X million pounds of swiss cheese can be imported into the United States from Switzerland each year. Such import quotas are a popular type of nontariff barrier imposed by countries throughout the world, competing with tariffs as the number one trade restriction. The general justification for import quotas is to protect domestic firms and industries from unfair competition by foreign companies. While this can be needed, import quotas are frequently used by oligopoly firms, with significant political influence to limit competition and maintain market control.
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SIGNALLING When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Signalling is used by those with more information to reduce the cost of informing those with less information. It is commonly used in markets with adverse selection. Methods of signalling include advertising, brand names, and warranties. A related method is screening.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"There is no passion to be found playing small ‚ in settling for a life that idles than the one you are capable of living." -- Nelson Mandela
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DIDMCA
Depository Institutions Deregulation and Monetary Control Act
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