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INDUSTRIAL ORGANIZATION: The manner in which a market or industry is organized or structured, especially in terms of the competitiveness of the firms making up the market or industry. This phrase is also used to mean the economic study of the organization or an industry. When used for the competitiveness of a market, the term market structure can be used interchangeably. Industrial organization is concerned with the competitiveness of market, what this means for market control by buyers or sellers, and how this affects the efficiency of production.
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INTERNATIONAL TRADE The exchange of goods and services among the nations of the world. Also termed foreign trade when viewed from the perspective of a given country, the international exchange of production is comparable to any exchange, except that buyers and sellers are from different countries. The study of international trade highlights an important economic principle, the law of comparative advantage, which helps to explain not only why nations engage in trade but why individuals engage in trade. A related area of study is international finance, both of which are part of the broader study of international economics.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either 500 feet of telephone cable or a package of 4 by 6 index cards, the ones with lines. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"Whenever you see a successful business, someone once made a courageous decision." -- Peter F. Drucker, business strategist
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CBA
Cost Benefit Analysis
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