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BUSINESS SECTOR: The basic macroeconomic sector containing the private, profit-seeking firms in the economy that combine scarce resources into the production of wants-and-needs satisfying goods and services. The key economic function of the business sector is the production of goods and services. The three basic types of business organizations that comprise the business sector are proprietorship, partnership, and corporation. This is one of the four macroeconomic sectors. The other three are household sector, government sector, and foreign sector. You might want to check out the key role that the business sector plays in the circular flow.
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MARKET CONTROL The ability of buyers or sellers to exert influence over the price or quantity of a good, service, or commodity exchanged in a market. Market control largely depends on the number of competitors on each side of the market. If a market has relatively few buyers, but many sellers, then limited competition on the demand-side of the market means buyers tend to have relatively more market control than sellers. The converse occurs if a market has many buyers, but relatively few sellers. This is also termed market power.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Nothing ever built arose to touch the skies unless some man dreamed that it should, some man believed that it could, and some man willed that it must. " -- Charles Kettering, inventor
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VES
Variable Elasticity of Substitution
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