|
|
WORLD VIEW: An aspect of a scientific theory that includes fundamental, and unverifiable axioms, beliefs, and values about how the world works. On example of an unverifiable world view axiom is belief in the existence of supreme, omnipotent, omniscience being. Political philosophies, which are essential to economic theories, are intertwined with alternative world views.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 17: Market Structures | Unit 2: Four Types
|
Page: 10 of 23
|
- The definition.
- Oligopoly is a market structure characterized by a small number of relatively large firms, producing either identical products or products with slight differences, with restricted entry and exit, and limitations on information available.
- The key feature of oligopoly is that a small number of firms dominate the industry.
- Consider these particular characteristics and practices of oligopoly firms:
- Concentration
- Entry Barriers
- Interdependence
- Price Rigidity
- Nonprice Competition
- Price Leadership
- Collusion
- Merger
|
|
|
|
|
|
|
CONSUMPTION SCHEDULE A table or chart that represents the relation between household sector consumption and income. A consumption schedule is commonly used for a basic, instructional presentation of aggregate consumption activity by the household sector and is also used as a source of numbers for deriving the consumption line. The key measures derived from the consumption-income relation in the schedule are average propensity to consume and marginal propensity to consume. The saving schedule is comparable table for the relation between saving and income.
Complete Entry | Visit the WEB*pedia |
|
|
|
In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
|
|
|
"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
|
|
G10
Group of Ten
|
|
|
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
|
|
