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BUSINESS CYCLES: The recurring expansions and contractions of the national economy (usually measured by real gross domestic product). A complete cycle typically lasts from three to five years, but could last ten years or more. It is divided into four phases -- expansion, peak, contraction, and trough. Unemployment inevitably rises during contractions and inflation tends to worsen during expansions. To avoid the inflation and unemployment problems of business cycles, the federal government frequently undertakes various fiscal and monetary policies.
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MARKET STRUCTURES The manner in which markets or industries are organized, based largely on the number of participants in the market or industry and the extent of market control of each participant. Perfect competition represents the benchmark market structure that contains a large number of participants on both sides of the market, and no market control by any firm. Three market structure models with varying degrees of market control on the supply side of the market are: monopoly, monopolistic competition, and oligopoly. Three lesser known market structures with varying degrees of market control on the demand side of the market are: monopsony, oligopsony, and monopsonistic competition.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for cardboard boxes.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"If I have ever made any valuable discoveries, it has been owing more to patient attention than to any other talent. " -- Isaac Newton, mathematician, physicist
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PDV
Present Discounted Value
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