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REALISM OF MONOPOLY: If taken to the extreme, monopoly, like perfect competition is an ideal market structure that does not actually exist in the real world. In the extreme, a "pure" monopoly is a market containing one and only ONE seller of good, a good with absolutely, positively no substitutes. The product is absolutely, certifiably unique. It's not just that it has no CLOSE substitutes, it has NO substitutes. Period. End of story. In the real world, however, every product, no matter how seemingly unique it might appear, has substitutes. The substitutes might not be very close. They might be really, really bad substitutes. But they are substitutes. As such, there are no pure monopolies in the real world.
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AGGREGATE DEMAND The total real expenditures on final goods and services produced in the domestic economy that buyers are willing and able to undertake at different price levels, during a given time period (usually a year). Aggregate demand, usually abbreviated AD, is an inverse relation between price level and aggregate expenditures. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate supply. Aggregate demand consists of four aggregate expenditures--consumption expenditures, investment expenditures, government purchases, and net exports--made by the four macroeconomic sectors--household, business, government, and foreign.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a black duffle bag with velcro closures or any book written by Isaac Asimov. Be on the lookout for telephone calls from long-lost relatives.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Always remember that striving and struggle precede success, even in the dictionary. " -- Sarah Ban Breathnach, writer
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LPG
Liquid Petroleum Gas
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