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July 5, 2025 

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VERIFIED PRINCIPLE: A generally accepted, verified, fundamental law of nature that has been tested against and verified with real world data. A verified principle begins as an hypotheses implied by a theory, which is then compared against real world observations. If the hypothesis is consistently supported by data, it achieves the rank "verified" principle. This should be contrasted with unverifiable axiom.

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IMPERFECT COMPETITION: Any markets or industries that do not match the criteria for perfect competition. The key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology. These four characteristics are essentially impossible to match in the real world.

     See also | market | market structure | perfect competition | monopoly | monopolistic competition | oligopoly | fifth rule of imperfection | fourth rule of competition | market control | demand curve | profit maximization | short-run production | marginal cost |


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IMPERFECT COMPETITION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 5, 2025].


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MIXED ECONOMY

An economy, or economic system, that relies on both markets and governments to allocate resources. Every economy in the real world regardless of their common designation (such as capitalism, socialism, or communism) make use of both markets and governments and is technically a mixed economy.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time watching infomercials hoping to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for rusty deck screws.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"Plans are only good intentions unless they immediately degenerate into hard work."

-- Peter Drucker, management consultant

EGARCH
Exponential Generalized Autoregressive Conditional Heteroskedasticity
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