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HEDGE: A method of protecting against financial (or other types) of loss by counterbalancing an action. This is commonly seen in the financial markets when investors buy options or futures contracts to protect themselves against price changes. A hedge is essentially a form of insurance. An investor hopes the price of a financial asset doesn't fall, but buying a futures or options contract can reduce the loss if this occurs.

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FOURTH RULE OF COMPETITION: The fourth of seven basic rules of the economy. It is the notion that competition among market buyers and sellers generate an efficient allocation of resources. Competition depends on the relative number of buyers and sellers. Fewer numbers give that side of the market relatively more market control and thus limits competition.

     See also | seven rules | market | competition | resource allocation | market control | monopoly | perfect competition | efficiency | competition among the many | competition among the few |


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FACTOR SUPPLY CURVE

A graphical representation of the relation between the price to a factor of production and quantity of the factor supplied, holding all ceteris paribus factor supply determinants constant. The factor supply curve is one half of the factor market. The other half is the factor demand curve.

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Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for pencil sharpeners with an attitude.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness."

-- Martin Luther King, Jr., clergyman

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