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INFRASTRUCTURE: Capital used for transportation, communication, and energy delivery. This is often termed social overhead capital because it provides the basic capital foundation needed by an economy before business capital can adequately do its job.
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Lesson 20: Oligopoly | Unit 2: Structure
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Page: 7 of 24
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Topic:
Concentration Ratios
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- The most popular measure (or measures) of concentration has (have) been the concentration ratio.
- A quick definition:
- A concentration ratio is the proportion of total output in an industry that's produced by a given number of the largest firms in the industry.
- The two most common concentration ratios are the 4-firm concentration ratio and 8-firm concentration ratio.
- In general concentration ratios range for a low of 0% to a high of 100%.
- A ratio of 0% indicates perfect competition and 100% ratio indicates total market control by the given number of firms use for the calculation
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LAW OF SUPPLY The direct relationship between supply price and the quantity supplied, assuming ceteris paribus factors are held constant. This economic principle indicates that an increase in the price of a commodity results in an increase in the quantity of the commodity that sellers are willing and able to sell in a given period of time, if other factors are held constant. The law of supply is an important principle in the study of economics.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for the happiest person in the room.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Wise men speak because they have something to say; Fools because they have to say something. " -- Plato, philosopher
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HSB
High School and Beyond
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