|
|
RIVAL CONSUMPTION: Consumption of a good by one person imposes a cost on, or prevents consumption of the good by, another person. Some goods, like food, have extremely rival consumption. One person, and only one person, gets the benefit. Other goods, like national defense, have no consumption rivalry, everyone can benefit simultaneously without imposing a cost on others. This is one of the two key characteristics of a good (the other is excludability) that distinguishes between common-property goods, near-public goods, private goods, and public goods.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 23: Factor Market Equilibrium | Unit 2: Market Control
|
Page: 11 of 24
|
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.
|
|
|
|
|
|
|
BUSINESS A profit-motivated organization that combines resources for the production and supply of goods and services. The three primary types of legal organization for a business are proprietorship, partnership, or corporation. A business might theoretically find itself operating in an industry or market structured as perfect competition, monopolistic competition, oligopoly, or monopoly. Regardless of organization and industry structure, a business is generally motivated by the pursuit of profit.
Complete Entry | Visit the WEB*pedia |
|
|
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 an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for rusty deck screws.
Your Complete Scope
This isn't me! What am I?
|
|
|
A half gallon milk jug holds about $50 in pennies.
|
|
|
"Intense concentration hour after hour can bring out resources in people they didn't know they had. " -- Edwin Land, inventor, entrepreneur
|
|
AIBD
Association of International Bond Dealers (now called International Securities Market Association)
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
