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ECONOMIC FORCES: Forces in the marketing environment that include decisions made by consumers and business organizations. The economy tends to follow business cycles of prosperity, recession, depression, and recovery--all which impact decisions made by an organization. It is critical for a business to correctly assess the current and near term trends in the business cycle. Incorrect decisions of inventory buildup, expansion, contraction, etc. can seriously impact a firm's market position and subsequent survivability.
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IMPLICIT COLLUSION Seemingly independent, but parallel, actions among competing firms (mostly oligopolistic firms) in an industry designed to control the market, raise the price, and otherwise act like a monopoly. Also termed tacit collusion, the distinguishing feature of implicit collusion is the lack of any explicit agreement. This is one of two types of collusion. The other is explicit or overt collusion, which involves an explicit agreement.
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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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"The roots of education are bitter, but the fruit is sweet." -- Aristotle
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AR(N)
A nth-order Autoregressive Process
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