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OLIGOPOLY CHARACTERISTICS: The three most important characteristics of oligopoly are: (1) an industry dominated by a small number of large firms, (2) firms sell either identical or differentiated products, and (3) the industry has significant barriers to entry.

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Lesson 5: Market Demand | Unit 3: Demand Curve Page: 9 of 20

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This table is a demand schedule presenting the relationship between demand price and quantity demanded.

Assumptions:

  • Ceteris paribus factors do not change.
  • Data is for a specific time period.
Observations:
  • First, higher prices go with lower quantities demanded-the law of demand.
  • Second, the prices and quantities are maximum values.
  • Third, demand is the whole set of price/quantity pair numbers. Quantity demanded is any single number at the specified price.
  • By the way, these numbers are hypothetical.

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REFERENCE WEEK, CURRENT POPULATION SURVEY

The calendar week (Sunday through Saturday) containing the 12th day of the month, which is used in the Current Population Survey (CPS) as the time period for documenting the employment and labor force status of respondents. The estimation of the unemployment rate and other employment information generated by the CPS are based on activities of survey respondents during this week. The actual survey is conducted by interviewers working for the Bureau of the Census during the calendar week containing the 19th day, which is termed the survey week.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for strangers with large satchels of used undergarments.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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