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BULL MARKET: A condition of the stock market in which stock prices are generally rising and most of the participants expect this to continue. In other words, the stock market is into an extended period of "charging ahead" like a mad bull. A bull market usually occurs because investors see a healthy, vibrant, profitable economy on the horizon. Compare bear market.
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Lesson 23: Factor Market Equilibrium | Unit 2: Market Control
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Page: 11 of 24
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In this unit, you should have learned about:- A review of market control from the selling side, including the four market structures -- perfect competition, monopolistic competition, oligopoly, and monopoly.
- How markets can also be controlled from the buying side resulting in the four market structures of perfect competition, monopsonistic competition, oligopsony, and monopsony.
- Why market control on the buying side is more important to factor markets.
- Monopsony, which is a market structure with a single buyer.
- Monopsonistic competition, which is a marker structure with a large number of relatively small buyers.
- Oligopsony, which is a marker structure with a small number of relatively large buyers.
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POLITICAL ENTREPRENEURS Election seeking politicians who undertake risks inherent in the allocation of resources made through government actions. Like business entrepreneurs, political entrepreneurs take risks and organize production. They organize production with government laws, regulations, and policies. They run the risk of failed policies and losing elections. Their utility-maximizing actions are also a prime source of government failure. Falling victim to the principal-agent problem, pursuit of their own satisfaction (winning elections) often conflicts with what is best for the rest of society.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a how-to book on wine tasting or a bookshelf that will fit in your closet. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
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LAD
Least Absolute Deviations
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