|
RISK LOVING: A person who values a certain income less than an equal amount of income that involves risk or uncertainty. Suppose that you have two options--(A) a guaranteed $1,000 or (b) a 50-50 chance of getting either $500 or $1,500. If you chose option B, then you're risk loving. While both options give you the same "expected" values, you get more satisfaction from the risky option than the guaranteed one. In fact, risk loving people are willing to pay for the opportunity to experience a risky situation.
Visit the GLOSS*arama
|
|

|
|
                          
MONOPOLISTIC COMPETITION: A market structure characterized by a large number of small firms, similar but not identical products sold by all firms, relative freedom of entry into and exit out of the industry, and extensive knowledge of prices and technology. This is one of four basic market structures. The other three are perfect competition, monopoly, and oligopoly. Monopolistic competition approximates most of the characteristics of perfect competition, but falls short of reaching the ideal benchmark that is perfect competition. In fact, the best way to think of monopolistic competition is our imperfect real world's best approximation of perfect competition. It aspires to perfect competition, but doesn't quite make it. See also | market structure | perfect competition | oligopoly | monopoly | market control | price maker | marginal cost | demand curve | market failure | monopolistic competition characteristics | monopolistic competition and demand | monopolistic competition and efficiency | inefficiency | product differentiation | competition among the many |  Recommended Citation:MONOPOLISTIC COMPETITION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 6, 2025]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: monopolistic competition
Search Again?
Back to the GLOSS*arama
|
|
SAVINGS AND LOAN ASSOCIATIONS Depository financial institutions that were originally established to assist home owners with low-cost mortgage loans using savings deposits. Savings and loan associations (S&Ls) offer checkable deposits that are part of the M1 monetary aggregate. While S&Ls are not "officially" chartered as banks, similar to other thrift institutions (credit unions and mutual savings banks) they do function comparable to any traditional bank, offering a wide range of deposits, loans, and other financial services.
Complete Entry | Visit the WEB*pedia |


|
|
PURPLE SMARPHIN [What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for celebrities who speak directly to you through your television. Your Complete Scope
This isn't me! What am I?
|
|
The word "fiscal" is derived from a Latin word meaning "moneybag."
|
|
"Argue for your limitations, and sure enough, they're yours." -- Richard Bach
|
|
LIFO Last In First Out
|
|
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
|

|