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MARKET CONTROL: The ability of buyers or sellers to exert influence over the price or quantity of a good, service, or commodity exchanged in a market. Market control depends on the number of competitors. If a market has relatively few buyers, but a bunch of sellers, then the buyers tend to have relatively more market control than sellers. The converse occurs if there are a bunch of buyers, but relatively few sellers. If the market is controlled on the supply side by one seller, we have a monopoly, and if it is controlled on the demand side by one buyer, we have a monopsony. Most markets are subject to some degree of control.
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GOVERNMENT FUNCTIONS Resource allocation activities that are more efficiently performed using the coercive government powers of taxation, spending, and regulatory authority than by private sector market exchanges. The most noted activities are (1) common defense; (2) education; (3) transportation; (4) public health and safety; (5) legal and judicial system; and (6) money.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for mail order catalogs with hidden messages.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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IER
International Economic Review
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