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DOMINANT FIRM: A term employed in industrial organization to describe a firm that is a price maker and faces little competition from smaller price taking firms, called fringe firms. A firm can become a dominant firm because it has lower costs than fringe firms, because they have a superior differentiated product in the market or because a group of firms collectively act as a single firm. A dominant firm usually has a large market share.
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TAXATION PRINCIPLES Taxes are the mandatory payments made by members of society to governments to finance government operations. The study of public finance identifies several key principles of taxation -- tax effects (revenue and allocation), tax proportionality (proportional, progressive, and regressive), tax payments (benefit and ability-to-pay), tax equity (horizontal and vertical).
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet looking to buy either a how-to book on wine tasting or a bookshelf that will fit in your closet. Be on the lookout for attractive cable television service repair people.
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In the early 1900s around 300 automobile companies operated in the United States.
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"Success is the ability to go from one failure to another with no loss of enthusiasm." -- Sir Winston Churchill
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WLLN
Weak Law of Large Numbers
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