|
|
PERFECT COMPETITION CHARACTERISTICS: The four key characteristics of perfect competition are: (1) large number of small firms, (2) identical products sold by all firms, (3) freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology. These four characteristics mean that a given perfectly competitive firm is unable to exert any control whatsoever over the market.
Visit the GLOSS*arama
|
|

|
|
|
SUPPLY INCREASE An increase in the willingness and ability of sellers to sell a good at the existing price, illustrated by a rightward shift of the supply curve. An increase in supply is caused by a change in a supply determinant and results in an increase in equilibrium quantity and a decrease in equilibrium price. A supply increase is one of two supply shocks to the market. The other is a supply decrease.
Complete Entry | Visit the WEB*pedia |


|
|
PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for vindictive digital clocks with revenge on their minds. Your Complete Scope
This isn't me! What am I?
|
|
|
One of the largest markets for gold in the United States is the manufacturing of class rings.
|
|
|
"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead." -- Charles M. Schwab
|
|
IPUMS Integrated Public Use Microdata Series
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|