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FACTOR MARKET, EFFICIENCY: A factor market achieves efficiency in the allocation of resources by equating marginal revenue product to factor price. Perfect competition, as the efficiency benchmark, is the only market structure to satisfy this criterion and achieve factor market efficiency. Monopsony, oligopsony, and monopsonistic competition are inefficient because they equate marginal revenue product to marginal factor cost, both of which are greater than factor price.
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CONSERVATIVE A political view that favors--(1) limited government intervention in the economy, (2) extensive reliance on markets, (3) strong national defense, (4) protection and promotion of existing cultural ideals and beliefs, and (5) economic rewards predominately based on productive efforts.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. 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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Two and a half gallons of oil are needed to produce one automobile tire.
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"One person with a belief is equal to a force of ninety-nine with only interests." -- John Stuart Mill
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M1
currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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