|
|
LOGROLLING: A systematic exchange of votes by politicians to obtain approval of specific legislation. That is, Senator Grapht agrees to vote for Senator Brybe's pet project if Senator Brybe votes for Senator Grapht's favorite piece of legislation. Such logrolling can be explicit or implicit. The explicit kind involves two separate bills, in which each politician is forced to "go on record" with a vote. The implicit kind, which many politicians favor, is where several separate programs are wrapped into a single bill. Every politician can then tell the folks back home that they really only wanted the "one thing" that helped their constituencies the most, but had to vote for "other things" as well. Logrolling is big reason our government is big and prone to inefficiency.
Visit the GLOSS*arama
|
|
|
|
                          
PRICE LEADERSHIP: A method used by a group of firms in the same market (typically oligopoly firms) in which one firm takes the lead in setting or changing prices, with other firms then following behind. The lead firm is often the largest firm in the industry, but it could be a smaller firm that has just historically assumed the role of price leader perhaps because it is more aware of changing market conditions. While price leadership is totally legal, it could be a sign of collusion, particular implicit collusion, in which the firms have effectively monopolized the market. See also | oligopoly | collusion | price rigidity | kinked-demand curve | nonprice competition | government intervention | antitrust laws |
Recommended Citation:PRICE LEADERSHIP, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: July 18, 2026].
Search Again?
Back to the GLOSS*arama
|
|
|
DERIVED DEMAND The notion that the demand for a factor of production, or an input used in the production of a good, depends on the demand for the output being produced. This concept highlights the two key aspects of factor demand. One is that factor demand depends on the value of the good being produced. Inputs that produce more valuable outputs are themselves more highly valued. Two is that factor demand depends on the productivity of the input. Inputs that produce more output are themselves more highly valued.
Complete Entry | Visit the WEB*pedia |
|
|
GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for a thesaurus filled with typos.
Your Complete Scope
This isn't me! What am I?
|
|
|
A half gallon milk jug holds about $50 in pennies.
|
|
|
"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
|
|
PHLX
Philiadelphia Stock Exchange
|
|
|
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
|
|
