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WORLD BANK: (International Bank for Reconstruction and Development) An agency of the United Nations that was established in 1945 to promote the economic development of the poorer nations in the world. They pursue this goal by providing low-interest loans to less development countries and offering technical assistance on the best ways to use these loans. Funds for the loans are obtained by the World Bank by selling bonds on the world's financial markets. It's long-run economic development orientation is usually coordinated with the shorter-run efforts of its sister U. N. agency, the International Monetary Fund.

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Lesson 20: Oligopoly | Unit 1: Intro Page: 4 of 24

Topic: Structure And Behavior <=PAGE BACK | PAGE NEXT=>

  • Structure: The basic structure of oligopoly rests with a small number of relatively large firms.

  • The two key structural considerations of this characteristic are:

    • Concentration
    • Entry Barriers.

  • Behavior: Markets with a small number of large firms behave differently than monopoly with a single firm or monopolistic competition with a large number of small firms.

  • Some of the more noted behavioral traits include:

    • Interdependence
    • Price Rigidity
    • Nonprice Competition
    • Price Leadership
    • Collusion
    • Mergers


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GDP PRICE DEFLATOR

A price index calculated as the ratio nominal gross domestic product to real gross domestic product. Also commonly referred to as the implicit price deflator, the GDP price deflator is used as an indicator of the economy's average price level. This price index is tabulated and reported every three months along with the gross domestic product, national income, and related measures that make up the National Income and Product Accounts maintained by the Bureau of Economic Analysis (BEA). The GDP part of GDP price deflator stands for gross domestic product.

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APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?

Natural gas has no odor. The smell is added artificially so that leaks can be detected.
"Old age isn't so bad when you consider the alternative. "

-- Cato, Roman orator

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