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IMPLICIT COLLUSION: Seemingly independent, but parallel actions among competing firms (mostly oligopolistic firms) in an industry that achieve higher prices and profits, much as if guided by an explicit collusion agreement. Also termed tacit collusion, the distinguishing feature of implicit collusion is the lack of any explicit agreement. They key is that each firm seems to be acting independently, perhaps each responding to the same market conditions, but the end result is the same as an explicit agreement. This should be contrasted with explicit or overt collusion that does involve a formal, explicit agreement.
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GEOGRAPHIC MOBILITY The mobility, or movement, of factors of production from a productive activity in one location to a productive activity in another location. In particular, geographic mobility is the ease with which resources can change locations. This is one of two types of mobility. The other is occupational mobility.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a set of hubcaps or handcrafted decorations to hang on your walls. Be on the lookout for celebrities who speak directly to you through your television.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"You just don't luck into things as much as you'd like to think you do. You build step by step, whether it's friendships or opportunities. " -- Barbara Bush, first lady
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NEDO
National Economic Development Office
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