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INDUSTRIAL ORGANIZATION: The manner in which a market or industry is organized or structured, especially in terms of the competitiveness of the firms making up the market or industry. This phrase is also used to mean the economic study of the organization or an industry. When used for the competitiveness of a market, the term market structure can be used interchangeably. Industrial organization is concerned with the competitiveness of market, what this means for market control by buyers or sellers, and how this affects the efficiency of production.

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PRIVATE PROPERTY: A fundamental economic institution in which resources (property) are owned and controlled by households and businesses (the private sector) rather than government (the public sector). Private property provides critical incentives for the efficient operation of competitive market and a market-oriented economy. Under private-property ownership, control over resources is relinquished (that is sold) when the owners are compensated for their opportunity costs. And this is just the sort of thing that leads to an efficient use of resources.

     See also | institution | resources | ownership and control | household | business | private sector | government | public sector | efficiency | competitive market | market-oriented economy | opportunity cost |


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PRIVATE PROPERTY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 27, 2024].


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BANK PANIC

An economy-wide problem in the financial sector and the banking industry that triggers an economy-wide business-cycle contraction or even depression. Bank panics were common throughout the 1800s and early 1900s, during which time they where the primary cause of business-cycle downturns. Bank panics usually involved bank runs that spread from bank to bank throughout the economy.

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a blue mechanical pencil or super soft, super cuddly, stuffed animals. Be on the lookout for strangers with large satchels of used undergarments.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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