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January 31, 2026 

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RECOVERY: A early expansionary phase of the business cycle shortly after a contraction has ended, but before a full-blown expansion begins. During a recovery, the unemployment rate remains relatively high, but it is beginning to fall. Real gross domestic product has begun to increase, usually rapidly. However, because the contraction remains fresh in the minds of many, it may not be immediately clear that the trough of the contraction has been reached.

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PERFECT COMPETITION, CHARACTERISTICS

The four key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) perfect resource mobility or the freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology.

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GREEN LOGIGUIN
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for crowded shopping malls.
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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.
"To understand a man, you must know his memories. The same is true of a nation."

-- Anthony Quayle, Actor

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