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MARKET SHARE: The fraction of an industry's total sales accounted for by a single business. In general, market share is a "first-guess" indicator of a firm's market control. If, for example, a company has a market share of 100 percent (that is, a monopoly), then you can rest assured it has a substantial amount of market control. A company with a 25 percent market share has less, but still notable, market control. In fact, when you get right down to the bottom line, the phrase "market share" is only worth mentioning for oligopolistic firms with a significant degree of market control. There really is no market control for a monopolistically competitive firm with a 0.00000001 percent market share.
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RESOURCE PRICE, AGGREGATE SUPPLY DETERMINANT One of three categories of aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and which shifts the aggregate supply curve when it changes. An increase in a resource price causes a decrease (leftward shift) of the short-run aggregate supply curve. A decrease in a resource price causes an increase (rightward shift) of the short-run aggregate supply curve. The other two categories of aggregate supply determinants are resource quantity and resource quality. Specific determinants falling into this general category include wages and energy prices. Anything affecting the prices paid for the use of labor, capital, land, and entrepreneurship is also included.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall looking to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for strangers with large satchels of used undergarments.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"A leader is most successful when people barely know he exists. When his work is done, his aim fulfilled, his troops will feel they did it themselves. " -- Lao-Tzu, philosopher
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VC
Variable Cost
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