|
|
HERFINDAHL-HIRSHMAN INDEX: A measure of concentration of the production in an industry that's calculated as the sum of the squares of market shares for each firm. This is an alternative method of summarizing the degree to which an industry is oligopolistic and the relative concentration of market power held by the largest firms in the industry. The Herfindahl index gives a better indication of the relative market control of the largest firms than can be found with the four-firm and eight-firm concentration ratios.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 2: Economic Science | Unit 3: Verification
|
Page: 11 of 20
|
|
Topic:
Evaluation: Don't Agree
|
|
|
The data and hypothesis don't agree.- While we can never absolutely prove a universal positive, we can disprove it, we can reject it as false.
- Rejecting an hypothesis can be as useful and as informative than accepting it. We know something that is NOT true.
- If an hypothesis is wrong, then maybe the theory is wrong. Maybe the previously verified principles, unverifiable world axioms are wrong. Maybe the specific test was bad.
- Whether an hypothesis is accepted or rejected, the recommendation is to do another test and another
Remember science is a process, not a subject.
|
|
|
|
|
|
|
AVERAGE REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between average revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a monopolistically competitive firm's output.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for a thesaurus filled with typos.
Your Complete Scope
This isn't me! What am I?
|
|
|
The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
|
|
|
"Act well at the moment, and you have performed a good action for all eternity." -- Johann Kaspar Lavater
|
|
IBRD
International Bank for Reconstruction and Development
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
