Google
Saturday 
June 14, 2025 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
TECHNICAL EFFICIENCY: Getting the most production from available resources. This term needs to be contrasted with a similar term allocative efficiency. You might want to check out the more general term of efficiency while you're at it. Technical efficiency simple means that you do the best job possible of combining resources to make a good . You don't waste material inputs. You don't have workers standing idly around waiting for spare parts. In essence, you produce a good at the lower possible opportunity cost.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

COLLUSION: A usually secret agreement among competing firms (mostly oligopolistic firms) in an industry to control the market, raise the market price, and otherwise act like a monopoly. The reason for the secrecy is that such behavior is illegal in the United States under antitrust laws. Collusion is a characteristic trait of oligopolistic industries. Intense competition and interdependent decision-making encourages oligopolistic firms to cooperate. One way to lessen the competition among an oligopolistic rival is to join forces through collusion. (The other way is through merger, but that's another entry.)

     See also | oligopoly | market control | industry | firm | monopoly | antitrust laws | competition | competition among the few | merger | explicit collusion | implicit collusion | cartel | Organization of Petroleum Exporting Countries | price leadership |


Recommended Citation:

COLLUSION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 14, 2025].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: collusion

Search Again?

Back to the GLOSS*arama

ARC ELASTICITY

The average elasticity for discrete changes in two variables. The distinguishing characteristic of arc elasticity is that percentage changes are calculated based on the average of initial and ending values of each variable, rather than initial values. Arc elasticity is generally calculated using the midpoint elasticity formula. The contrast to arc elasticity is point elasticity. For infinitesimally small changes in two variables, arc elasticity is the same as point elasticity.

Complete Entry | Visit the WEB*pedia


APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope

This isn't me! What am I?

A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. "

-- Mary Parker Follett, management coach

AAT
Association of Accounting Technicians
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2025 AmosWEB*LLC
Send comments or questions to: WebMaster