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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.
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SELLERS' MARKET A disequilibrium condition in a competitive market that has a shortage or excess demand. Because the quantity demanded is greater than the quantity supplied, sellers have the "upper hand" when negotiating. A sellers' market also goes by the more common term of shortage. The alternative to a sellers' market is a buyers' market, which has a surplus or excess supply.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either clothing for your pet dog or an ink cartridge for your printer. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"If things are not going well with you, begin your effort at correcting the situation by carefully examining the service you are rendering, and especially the spirit in which you are rendering it." -- Roger Babson, statistician and columnist
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NIPA
National Income and Product Accounts
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