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DEREGULATION: The reduction of government regulation of business, consumers, and market activity. The most noted period of deregulation occured during the 1970s and 1980s in response to criticisms that economic regulation inhibited rather than promoted competition. Key industries deregulated during this period were transportation, communications, and banking industries. Social regulations were also relaxed.
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LAW OF DEMAND The inverse relationship between demand price and the quantity demanded, assuming ceteris paribus factors are held constant. This fundamental economic principle indicates that a decrease the price of a commodity results in an increase in the quantity of the commodity that buyers are willing and able to purchase in a given period of time, if other factors are held constant. The law of demand is one of the most important principles found in the study of economics.
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In the early 1900s around 300 automobile companies operated in the United States.
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"The difference between the impossible and the possible lies in a person's determination. " -- Tommy Lasorda
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MRP
Marginal Revenue Product
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