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OLIGOPOLY: A market structure dominated by a small number of large firms, selling either identical or differentiated products, and significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition.
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Lesson 18: Banking | Unit 2: Banking Details
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Page: 8 of 24
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The last type of is a mutual savings bank. Savings banks: - A cross between credit unions and savings and loans associations.
- Nonprofit cooperatives that pool members' savings like credit unions, but their primary lending activity is mortgage loans, like savings and loans associations.
- They also began issuing checking accounts in the 1970's.
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CLASSICAL ECONOMICS A theory of economics, especially directed toward macroeconomics, based on the unrestricted workings of markets and the pursuit of individual self interests. Classical economics relies on three key assumptions--flexible prices, Say's law, and saving-investment equality--in the analysis of macroeconomics. The primary implications of this theory are that markets automatically achieve equilibrium and in so doing maintain full employment of resources without the need for government intervention. Classical economics emerged from the foundations laid by Adam Smith in his book An Inquiry into the Nature and Causes of the Wealth of Nations, published in 1776. Although it fell out of favor in the 1930s, many classical principles remain important to modern macroeconomic theories, especially aggregate market (AS-AD) analysis, rational expectations theory, and supply-side economics.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for infected paper cuts.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"A ship ought not to be held by one anchor, nor life by a single hope. " -- Epictetus, philosopher
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JIE
Journal of Industrial Economics
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