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PREDATORY PRICING: The process in which a firm with market control reduces prices below average total cost with the goal of forcing competitors into bankruptcy. This practice is most commonly undertaken by oligopoly firms seeking to expand their market shares and gain greater market control. Predatory price has been outlawed by antitrust laws, but it can be difficult to prove, and is thus likely exists more than most people think.
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AUTONOMOUS CONSUMPTION Household consumption expenditures that do not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in consumption. Autonomous consumption is best thought of as a baseline or minimum level of consumption that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the consumption function or the consumption line. The alternative to autonomous consumption is induced consumption, which does depend on income.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either clothing for your pet dog or an ink cartridge for your printer. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"Before you can inspire with emotion, you must be swamped with it yourself. Before you can move their tears, your own must flow. To convince them, you must yourself believe." -- Sir Winston Churchill
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GSP
Gross State Product
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