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ENTRY BARRIER: An institutional, government, technological, or economic restriction on the entry of firms into a market or industry. The four primary barriers to entry are: resource ownership, patents and copyrights, government restrictions, and start-up costs. Barriers to entry are a key reason for market control and the inefficiency that this generates. In particular, monopoly, oligopoly, monopsony, and oligopsony often owe their market control to assorted barriers to entry. By way of contrast, perfect competition, monopolistic competition, and monopsonistic competition have few if any barriers to entry and thus little or no market control.
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EFFICIENT INFORMATION SEARCH A comparison between the cost of acquiring information and the benefit generated by the information such that it is not possible to increase welfare or well being by acquiring any more of any less information. Efficient information search is achieved by equating the marginal cost of search with the benefit of search. This efficiency is comparable to the profit-maximizing decision by a producer and the utility-maximizing decision by a consumer.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for fairy dust that tastes like salt.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"The two most powerful warriors are patience and time. " -- Leo Tolstoy, author
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EBIT
Earnings Before Interest and Taxes
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