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PERSONAL INCOME: The total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. The primary use of personal income is to measure the income actually paid out to the household sector. After adjusting for income taxes, personal income forms the basis for consumption expenditures on gross domestic product.
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Lesson 17: Market Structures | Unit 1: Intro
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Page: 2 of 23
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- The variety of market structures that exist in the economy. The real-world economy offers even more.
- Perfect competition does NOT exist in the real world in its' ideal form, but some types of industries come close.
- Monopolistic competition is the real world's best approximation of perfect competition.
- Oligopoly is well represented by large manufacturing firms.
- Monopoly tends to be most prevalent in the area of urban public utilities, including electricity, natural gas, water, sewage, trash collection, telephone service, and cable television.
- Several factors influence the market structure for a particular industry.
- Number of Competitors
- Production Technology
- Total Market Demand
- Entry Barriers
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LABOR FORCE PARTICIPATION RATE The proportion of the total noninstitutionalized civilian population 16 years of age and over that is in the civilian labor force. The labor force participation rate is essentially the ratio of the civilian labor force to the total noninstitutionalized civilian population 16 years of age and over. The data used to estimated the labor force participation rate is obtained along with other labor force data from the monthly Current Population Survey conducted by the Bureau of the Census for the Bureau of Labor Statistics. Labor force participation rates are also commonly calculated using data derived from the Census of the Population.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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KLCE
Kuala Lumpur Commodity Exchange (Malaysia)
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