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OLIGOPSONY: A market structure dominated by a small number of large buyers controlling the buying-side of a market. Oligopsony is the somewhat obscure and seldom discussed buying counterpart to an oligopoly seller that controls the selling side of a market. Whereas oligopoly is most relevant to product markets, oligopsony is most relevant to factor markets.
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VERY SHORT RUN, MICROECONOMICS A production period of time in which at all inputs in the production process are fixed, meaning the quantity of output itself is fixed. Also termed market period, the very short run exists if the period is so short that no additional production is possible. In other words, the good has been produced, all that remains is to sell it. This is one of four production time periods used in the study of microeconomics. The other three are short run, long run, and very long run.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for malfunctioning pocket calculators.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. " -- Henry David Thoreau, philosopher
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TFC
Total Fix Cost
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