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ANTITRUST LAWS: A series of laws passed by the U. S. government that tries to maintain competition and prevent businesses from getting a monopoly or otherwise obtaining and exerting market control. The first of these, the Sherman Antitrust Act, was passed in 1890. Two others, the Clayton Act and the Federal Trade Commission Act, were enacted in 1914. These laws impose all sorts of restrictions on business ownership, control, mergers, pricing, and how businesses go about competing (or cooperating) with each other.
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                           FACTORY: The physical capital (building and equipment) at a particular location used for the production of goods and services. A factory, or plant, is usually a relatively large production operation (compared with something smaller, like a shop). While factory and firm are occasionally used synonymously they are not really the same. A given firm might own more than factory and a given factory might be owned by more than one firm. A factory is essentially the geographic manifestation of large scale production, where the capital, workers, and materials are combined in the production of goods and services.The term factory is occasionally used synonymously with other terms such as firm or business. However, to be precise, a firm or business is the organization set up to oversee production and a factory is the physical location of the production. The one term that is largely synonymous with factory is plant. The distinction between the terms firm (or business) and factory (or plant) provides a couple of interesting combinations. - A given firm can operate several different factories. Consider The Wacky Willy Company, proud producer of Wacky Willy Stuffed Amigos (those adorable foam-filled tarantulas and scorpions). The Wacky Willy Company actually operates several factories for the production of Stuffed Amigos. They have their main assembly factory on the north edge of Shady Valley, just up the highway from the shopping mall. They also have a fabric-cutting facility in Oak Town, thirty miles south of Shady Valley, a tag-printing factory in nearby Breezy Burg, and a stuffing poofer operation located in upstate Whispering Falls. The Wacky Willy Company is clearly a multi-factory firm. A single firm and four factories.
- A single factory can be operated by more than one firm. Consider the wireless communications data relay equipment production facility located east of Shady Valley. This facility is used to assemble the assorted computers and communications equipment that enables high speed wireless telephone communication. This particular factory is owned and operated as a joint venture among Shady Valley's four wireless telephone services--OmniCell, Digital Distance, Tucker Trilateral Telephone, and FoneCom. In this case, there is one factory and four firms.
 Recommended Citation:FACTORY, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 19, 2025]. Check Out These Related Terms... | | | | | | | | | | | | Or For A Little Background... | | | | | | And For Further Study... | | | | | | Related Websites (Will Open in New Window)... | |
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RED AGGRESSERINE [What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for jovial bank tellers. Your Complete Scope
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Lombard Street is London's equivalent of New York's Wall Street.
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"Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not; it is the first lesson that ought to be learned; and however early a man's training begins, it is probably the last lesson that he learns thoroughly. " -- Thomas H. Huxley, Scientist
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SLLN Strong Law of Large Numbers
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