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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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PHYSICAL WEALTH, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the physical wealth causes a decrease (leftward shift) of the aggregate curve. A decrease in the physical wealth causes an increase (rightward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, federal deficit, inflationary expectations, and the money supply.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"The way to gain a good reputation is to endeavor to be what you desire to appear. " -- Socrates, philosopher
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IRBNE
Income Received But Not Earned
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