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OLIGOPOLY, CONCENTRATION: Oligopoly is a market structure that contains a small number of relatively large firms, meaning oligopoly markets tend to be concentrated. A small number of large firms account for a majority of total output. Concentration unto itself is not necessarily bad, but it often leads to inefficient behavior, such as collusion and nonprice competition. Concentration is measured in three ways--market share, concentration ratio, Herfindahl index.
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Lesson 19: Money Creation | Unit 3: Modern Banking
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Page: 12 of 23
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- A purchase is made with a check written on the Amos National Bank.
- The store deposits the check in Bob's State Bank.
- Bob's Bank adds $90 worth of liabilities to the store's account.
- This liability is balanced with reserves transferred from Amos National Bank.
- Amos National losses $90 of reserves and Bob's Bank gains $90 of reserves.
- Amos National ends up with $10 of reserves and a $90 loan.
- Bob's Bank has $90 in reserves. It must keep 10% ($9), giving Bob's Bank $81 of excess reserves.
- Bob's Bank makes an $81 loan to a customer who wants to buy a CD player.
- Once again, this process creates $81 worth of money.
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EQUITY This has two, not totally unrelated, uses in economics--one of five economic goals and ownership of an asset. As an economic goal, one of the two microeconomic goals, achieving equity means that income and wealth are distributed in a fair manner. What is meant by "fair" is subject to continuing debate. As ownership, equity typically refers to the ownership of a corporation, especially corporate stock. An equity market, as such, is another term for a stock market that trades ownership stock of corporations.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel wanting to buy either a T-shirt commemorating the 2000 Presidential election or a really, really exciting, action-filled video game. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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GSP
Gross State Product, Generalized System of Preferences
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