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OLIGOPSONY: A market structure dominated by a small number of large buyers controlling the buying-side of a market. Oligopsony is the somewhat obscure and seldom discussed buying counterpart to an oligopoly seller that controls the selling side of a market. Whereas oligopoly is most relevant to product markets, oligopsony is most relevant to factor markets.
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EFFECTIVE DEMAND A key conceptual notion of Keynesian economics stipulating that the aggregate expenditures on real production is based on existing or actual income rather than the income that would be generated with full employment of resources. Effective demand is embodied in the aggregate expenditures line, which has a positive slope, but a slope of less than one. This concept was proposed by Thomas Robert Malthus in the early 1800s as a counter argument to Say's law found in classical economics and then found new life when John Maynard Keynes developed his theory in the 1930s.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"It is only our deeds that reveal who we are. " -- Carl Jung, psychiatrist
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FTC
Federal Trade Commission
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