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IMPORT QUOTA: A limit on the importation of a particular good brought into one country from another country. An import quota, for example, would stipulate something like only X million pounds of swiss cheese can be imported into the United States from Switzerland each year. Such import quotas are a popular type of nontariff barrier imposed by countries throughout the world, competing with tariffs as the number one trade restriction. The general justification for import quotas is to protect domestic firms and industries from unfair competition by foreign companies. While this can be needed, import quotas are frequently used by oligopoly firms, with significant political influence to limit competition and maintain market control.
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AGGREGATE DEMAND INCREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by an increase in aggregate demand, resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the short-run aggregate market results in an increase in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either 500 feet of telephone cable or a package of 4 by 6 index cards, the ones with lines. Be on the lookout for the happiest person in the room.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Whenever you see a successful business, someone once made a courageous decision." -- Peter F. Drucker, business strategist
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SBA
Small Business Administration
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