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ECONOMIC UNION: An agreement among two or more nations to eliminate trade barriers with each other, to adopt a common trade policy with other nations, to allow free movement of resources among the countries, and to adopt common monetary policy or fiscal policy. This is considered the fourth of four levels of integration among nations.
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Lesson 20: Oligopoly | Unit 3: Behavior
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Page: 12 of 24
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- More on collusion.
- Collusion is a usually secret agreement among competing firms in an industry to control the market, raise the market price, and otherwise act like a monopoly.
- The reason for secrecy is that such behavior is illegal in the United States as well as most other countries.
- Two types:
- Explicit collusion
- Implicit collusion
- The secretive nature of most explicit collusion makes it very difficult to know when and where it occurs.
- Implicit collusion is even more difficult to identify.
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PER UNIT TAX A tax specified as a percentage of the quantity of a good, service, asset, or other activity. Per unit taxes are often imposed on specific goods or markets. A common per unit tax is that levied on gasoline. People pay a given tax for each gallon of gasoline purchased, regardless of the price of gasoline. An alternative is an ad valorem tax, with is a tax specified as a percentage of the value or price of a good.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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ASEAN
Association of South East Asian Nations
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