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MARKET STRUCTURE CONTINUUM: A diagram illustrating alternative degrees of market control held by different types of market structures based on the number of firms in the market and the degree of competitiveness. As the number of competitors along the continuum ranges from one to many, the degree of market control ranges complete to none. At one end of the continuum, with many competitors on no market control, is perfect competition. At the other end, with one competitor and complete market control, is monopoly. Oligopoly and monopolistic competition comprise the interior of the continuum, with monopolistic competition having many competitors but limited market control and oligopoly having few competitors and greater market control. The continuum illustrates that clear-cut dividing lines really do not exist between the market structures, especially for monopolistic competition and oligopoly.
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INDUCED EXPENDITURES Expenditures on aggregate production by the four macroeconomic sectors that depend on income or production (especially national income or even gross domestic product). That is, changes in income generate changes in these expenditures. Each of the four aggregate expenditures--consumption, investment expenditures, government purchases, and net exports--have an induced component. Induced expenditures are measured by the slope of the aggregate expenditures line. The alternative to induced expenditures are autonomous expenditures, expenditures which do not depend on income.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"Don't be afraid if things seem difficult in the beginning. That's only the initial impression. The important thing is not to retreat; you have to master yourself." -- Olga Korbut, Gymnast
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VAT
Value Added Tax
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