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COLLUSION: A usually secret agreement among competing firms (mostly oligopolistic firms) in an industry to control the market, raise the market price, and otherwise act like a monopoly. The reason for the secrecy is that such behavior is illegal in the United States under antitrust laws. Collusion is a characteristic trait of oligopolistic industries. Intense competition and interdependent decision-making encourages oligopolistic firms to cooperate. One way to lessen the competition among an oligopolistic rival is to join forces through collusion. (The other way is through merger, but that's another entry.)
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Lesson 13: The Firm | Unit 3: Legal Types
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Page: 16 of 24
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- Attempts have been made to do just that with three modern variations of the original three:
- Limited Partnership A limited partnership is a partnership in which one or more of the partners have limited liability.
- S Corporation An "S" corporation is a corporation that has elected to be taxed under Chapter S of the Internal Revenue Service tax code.
- Limited Liability Company One of the newest types of firms is a limited liability company which is essentially a partnership in which the owners have limited liability.
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CHAIRMAN OF THE BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM The head of the Board of Governors of the Federal Reserve System, and thus the person who is effectively in charge of monetary policy for the United States. The Chairman, one of the 7 members of the Board of Governors, serves as Chairman for a 4-year term, and also is Chairman of the powerful Federal Open Market Committee--the Federal Reserve Committee that sets the course of monetary policy. Being positioned at the top of the central banking authority of the United States, the Chairman is one of the most powerful, if not THE most powerful, individuals in the economy.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for rusty deck screws.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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OBX
Oslo Stock Exchange (Norway)
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