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INFLATION: A persistent increase in the average price level in the economy. Inflation occurs when the AVERAGE price level (that is, prices IN GENERAL) increases over time. This does NOT mean that ALL prices increase the same, nor that ALL prices necessarily increase. Some prices might increase a lot, others a little, and still other prices decrease or remain unchanged. Inflation results when the AVERAGE of these assorted prices follows an upward trend. Inflation is the most common phenomenon associated with the price level.
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FEDERAL TRADE COMMISSION: An independent federal agency run by a 5-member commission that's charged by Congress with preventing unfair and deceptive business activities and other various monopoly practices that tend to inhibit competition. The FTC was set up in 1914 to help the Justice Department enforce a growing number of antitrust laws. It has the authority to restrict assorted market monopolizing practices, such as mergers, false or misleading advertising, price discrimination, and price fixing. Since the time of it's formation, the FTC has grown into an important consumer protection agency. See also | monopoly | competition | antitrust laws | merger | price discrimination | price fixing | unfair competition | advertising |
Recommended Citation:FEDERAL TRADE COMMISSION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: February 10, 2026].
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ENERGY PRICES, AGGREGATE SUPPLY DETERMINANT One of several specific aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and that shifts the aggregate supply curve when it changes. An increase in the energy prices causes a decrease (leftward shift) of the aggregate supply curve. A decrease in the energy prices causes an increase (rightward shift) of the aggregate supply curve. Other notable aggregate supply determinants include technology, wages, and the capital stock. Energy prices fall under the resource price aggregate supply determinant.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Cherish your visions and your dreams as they are the children of your soul; the blue prints of your ultimate achievements." -- Napoleon Hill, Author
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