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CLAYTON ACT: This antitrust law passed in 1914 outlawed specific practices designed to monopolize a market including price discrimination, exclusive agreements, tying contracts, mergers, and interlocking directorates. The Clayton Act was one of three major antitrust laws passed in the late 1800s and early 1900s. The other two were the Sherman Act and the Federal Trade Commission Act. The specific practices outlawed were designed to correct flaws of the Sherman Act, especially vague wording about what constituting a monopoly. Moreover, while the Sherman Act outlawed monopoly after it emerged, the Clayton Act made practices that gave rise to monopoly control illegal.
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Lesson 12: Elasticity and Demand | Unit 1: An Overview
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Page: 2 of 25
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Topic:
Price Elasticity Of Demand
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- A definition:
- Price elasticity of demand is the relative response of quantity demanded to changes in demand price.
- We like to state this as a little formula:
price elasticity
of demand | = | percentage change
in quantity demanded
percentage change
in price |
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INVISIBLE HAND The notion that buyers and sellers, consumers and producers, households and businesses, by pursuing their own self-interests do what is best for the economy automatically without any government intervention, as if guided by an invisible hand.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either super soft, super cuddly, stuffed animals or a large stuffed brown and white teddy bear. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"always remember an epitaph which is in the cemetery at Tombstone, Arizona. It says: „Here lies Jack Williams. He done his damnedest.¾ I think that is the greatest epitaph a man can have ‚ When he gives everything that is in him to do the job he has before him. That is all you can ask of him and that is what I have tried to do. " -- Harry Truman, 33rd US president
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MA(N)
A nth-order Moving Average Process
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