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SECURITIES AND EXCHANGE COMMISSION: (SEC) A federal government agency that regulates the trading of corporate stock to protect investors against unscrupulous practices. Like a number of other federal regulatory agencies, the SEC was established in the 1930s--1934 to be exact. The impetus for its formation was to prevent investors from manipulating the stock market and to prevent other practices that contributed to the 1929 stock market crash. The SEC has all sorts of rules governing the stock market, including information disclosure, insider trading, speculation, and use of credit.

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Lesson 23: Factor Market Equilibrium | Unit 2: Market Control Page: 8 of 24

Topic: Buying Side <=PAGE BACK | PAGE NEXT=>

  • Here's a list of resource market structures that have buying-side market control:

    • Perfect competition: This has exactly the same name as the selling-side market structure because perfect competition is really based on large numbers of both buyers and sellers exchanging an identical production.

    • Monopsonistic competition: This is the buying-side equivalent of monopolistic competition.

    • Oligopsony: is a market structure with a small number of relatively large firms dominating the market for a factor.

    • Monopsony: is a market structure with a single firm buying all output.


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PLANNING HORIZON

Another term for the long-run average cost curve. The long-run average cost curve is termed the planning horizon or planning curve because it provides information that a firm can use to plan factory construction and expansion in the long run.

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YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for letters from the Internal Revenue Service.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minuteshould be enjoyed and savored."

-- Earl Nightingale

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Real Business Cycle
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