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CLAYTON ACT: This antitrust law passed in 1914 outlawed specific practices designed to monopolize a market including price discrimination, exclusive agreements, tying contracts, mergers, and interlocking directorates. The Clayton Act was one of three major antitrust laws passed in the late 1800s and early 1900s. The other two were the Sherman Act and the Federal Trade Commission Act. The specific practices outlawed were designed to correct flaws of the Sherman Act, especially vague wording about what constituting a monopoly. Moreover, while the Sherman Act outlawed monopoly after it emerged, the Clayton Act made practices that gave rise to monopoly control illegal.
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Lesson 7: Market | Unit 3: A Graph
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Page: 11 of 22
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This market graph combines the forces of demand and supply.- Equilibrium is achieved as each side of the market seeks a mutually agreeable exchange.
- The equilibrium price is 50 cents and the equilibrium quantity is 400 tapes. At this 50-price, the quantity demanded is equal to the quantity supplied.
- At no other price is the quantity demanded and supplied equal.
- That's equilibrium.
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PERSONAL CONSUMPTION EXPENDITURES The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis that measures household consumption expenditures on gross domestic product. Personal consumption expenditures are far and away the largest and most stable of the four expenditures, averaging about 65 to 70 percent of gross domestic product. The other official expenditures included in the National Income and Product Accounts are gross private domestic investment, government consumption expenditures and gross investment, and net exports of goods and services.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
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PPF
Production Possibilities Frontier
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