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ANTITRUST LAWS: A series of laws passed by the U. S. government that tries to maintain competition and prevent businesses from getting a monopoly or otherwise obtaining and exerting market control. The first of these, the Sherman Antitrust Act, was passed in 1890. Two others, the Clayton Act and the Federal Trade Commission Act, were enacted in 1914. These laws impose all sorts of restrictions on business ownership, control, mergers, pricing, and how businesses go about competing (or cooperating) with each other.
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Lesson Contents
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Unit 1: The Concept |
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Unit 2: A Little More |
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Unit 3: Measurement |
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Unit 4: A Continuum |
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Unit 5: Market Elasticity | |
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Elasticity Basics
In this lesson, we will examine the basics of elasticity, including what it is, how it is measured, and how it is used in market analysis. - The first unit of this lesson, The Concept, introduces the elasticity concept and previews its role in market analysis.
- In the second unit, A Little More, examines the importance of elasticity for such topics as market shocks, taxes, and price controls.
- The third unit, Measurement, takes a close look at how elasticity is measured, focusing on the coefficient of elasticity.
- The fourth unit, A Continuum, examines the five categories of elasticity, ranging from elastic to inelastic, that form a continuum.
- The fifth unit and final unit, Market Elasticity, closes this lesson by introducing four key elasticity concepts for the market demand and supply.
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SLOPE, SAVING LINE The positive slope of the saving line is also termed the marginal propensity to save (MPS). This slope is greater than zero but less than one, reflecting induced saving and the Keynesian psychological law of consumer behavior that saving increases by less than the increase in income. The slope of the saving line provides the foundation for the slope of the leakages line used in the injections-leakages model. It thus also affects the magnitude of the multiplier process.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Intense concentration hour after hour can bring out resources in people they didn't know they had. " -- Edwin Land, inventor, entrepreneur
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MRP
Marginal Revenue Product
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