|
|
COMPETITION AMONG THE FEW: A market with a small number of sellers (or buyers), such that each seller (or buyer) has some degree of market control. Many think of this type of competition when the term competition arises (the other type is competition among the many). This sort of competition leads to intense rivalry where each participant achieves their objective only by beating the others. I call this track-meet competition. In a track race among a handful of competitors, like a 100 meter sprint, the winner is the fastest of THIS GROUP.
Visit the GLOSS*arama
|
|
|
|
|
ABSTRACTION Simplifying the complexities of the real world by ignoring (hopefully) unimportant details while doing economic analysis. Abstraction is an essential feature of the scientific method. Hypothesis verification, model construction, and comparative static analysis are not possible without abstraction.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for the happiest person in the room.
Your Complete Scope
This isn't me! What am I?
|
|
|
Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
|
|
|
"Do not think a man has done his full duty when he has performed the work assigned him. A man will never rise if he does only this. Promotion comes from exceptional work. " -- Andrew Carnegie, industrialist
|
|
CLT
Central Limit Theorem
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
