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June 15, 2025 

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BBB: The abbreviation for the Better Business Bureau, a group of businesses and organizations in a local community that seek to eliminate unethical business practices and protect consumers. The first Better Business Bureau was established in 1912 in Minnesota. Today, most local communities (read this as cities) throughout North America have Better Business Bureaus. This private response to questionable business practices should be compare with the government response, the Federal Trade Commission.

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MONOPOLY AND EFFICIENCY: A monopoly firm generally produces less output and chargers a higher price than would be the case for a perfectly competitive industry. In particular, the price charged by a monopoly is not equal to (in fact, higher than) the marginal cost of production. The equality between price and marginal cost is THE key indication that resources are allocated efficiently and that society's resources are being used to generate the highest possible level of satisfaction.

     See also | monopoly | market control | marginal cost | demand curve | market failure | monopoly characteristics | monopoly and demand | monopoly profit | monopoly and perfect competition | inefficiency |


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MONOPOLY AND EFFICIENCY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 15, 2025].


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CONCENTRATION RATIOS

A family of measures of the proportion of total output in an industry that is produced by a given number of the largest firms in the industry. The two most common concentration ratios are for the four largest firms and the eight largest firms. The four-firm concentration ratio is the proportion of total output produced by the four largest firms in the industry and the eight-firm concentration ratio is proportion of total output produced by the eight largest firms in the industry. Concentration ratios are commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control of the largest firms in the industry. A related measure is the Herfindahl index.

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PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for telephone calls from former employers.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
"Intense concentration hour after hour can bring out resources in people they didn't know they had. "

-- Edwin Land, inventor, entrepreneur

IIA
Irrelevance of Independent Alternatives
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