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HEDGING: Buying or selling futures contracts to protect against price changes. This is a common form of "insurance" used by those who produce various commodities, such as wheat, cattle, coffee, and natural gas, as well as those who buy these commodities as inputs.
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MONOPOLISTIC COMPETITION, ADVERTISING Advertising is commonly used by firms operating under monopolistic competition as a way to create product differentiation and thus to acquire some degree of market control and thus charge a higher price.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"The only profit center is the customer." -- Peter Drucker, educator
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CES
Constant Elasticity of Substitution
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