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MARKET STRUCTURE CONTINUUM: A diagram illustrating alternative degrees of market control held by different types of market structures based on the number of firms in the market and the degree of competitiveness. As the number of competitors along the continuum ranges from one to many, the degree of market control ranges complete to none. At one end of the continuum, with many competitors on no market control, is perfect competition. At the other end, with one competitor and complete market control, is monopoly. Oligopoly and monopolistic competition comprise the interior of the continuum, with monopolistic competition having many competitors but limited market control and oligopoly having few competitors and greater market control. The continuum illustrates that clear-cut dividing lines really do not exist between the market structures, especially for monopolistic competition and oligopoly.
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CAPITAL The manufactured, artificial, or synthetic goods used in the production of other goods, making capital the "produced" factor of production. This is one of four basic categories of resources, or factors of production. The other three are labor, land, and entrepreneurship. Capital makes labor more productive.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Good humor is a tonic for mind and body. It is the best antidote for anxiety and depression. It is a business asset. It attracts and keeps friends. It lightens human burdens. It is the direct route to serenity and contentment." -- Grenville Kleiser, Author
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LME
London Metal Exchange
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