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OLIGOPOLY CHARACTERISTICS: The three most important characteristics of oligopoly are: (1) an industry dominated by a small number of large firms, (2) firms sell either identical or differentiated products, and (3) the industry has significant barriers to entry.
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Lesson 12: Business Cycles | Unit 3: Measurement
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Page: 14 of 26
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Coincident economic indicators move along with the aggregate economy. They mark the business cycle.- We don't know how the economy is doing until after the fact. Real GDP is released every three months. Coincident indicators are available monthly.
- The four coincident indicators are measures of production, employment, income, and sales.
- The Composite Index of Coincident Indicators, displayed in the graph, combines all four. Turns in this index mark business cycle peaks and troughs.
- Leading and coincident indicators work together. Leading indicators forecast turning points. Coincident indicators turn 3 to 12 months later.
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ECONOMY The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a large red and white striped beach towel or a bottle of blackcherry flavored spring water. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Man is born to live, not to prepare for life. " -- Boris Pasternak, writer
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CUUS
Comsumer Union of the United States
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