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PERFECT COMPETITION, REALISM: Perfect competition is an idealized market structure that does NOT exist in the real world. While some real world industries might come relatively close to one or two of the four key characteristics of perfect competition, none matches all four sufficiently that they can be declared PERFECTLY competitively. Some industries come close on the large number of small firms and the identical product characteristics. A few industries have relatively good, although not perfect, information about prices and technology. However, almost all industries fall far short of the perfect mobility characteristics.
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INVESTMENT The sacrifice of current benefits or rewards to pursue an activity with expectations of greater future benefits or rewards. Investment is the mechanism used to increase the economy's production capabilities and generate economic growth. Investment is typically used to mean the purchase of capital by business in anticipation of profit, which is termed investment expenditures.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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IBRD
International Bank for Reconstruction and Development
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