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GROSS DOMESTIC PRODUCT, INCOME: A method of estimating gross domestic product (GDP) based on identifying the income (wages, rent, interest, and profit) received by the owners of the four factors of production (labor, capital, land, and entrepreneurship). This is one of two methods used by the Bureau of Economic Analysis in the National Income and Product Accounts to estimate gross domestic product.

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EIGHT-FIRM CONCENTRATION RATIO

The proportion of total output in an industry produced by the eight largest firms in an industry. This is one of two common concentration ratios. The other is the eight-firm concentration ratio. Another related measure is the Herfindahl index. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control held by the eight largest firms in the industry.

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Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for the last item on a shelf.
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