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DEMAND: The willingness and ability to buy a range of quantities of a good at a range of prices, during a given time period. Demand is one half of the market exchange process; the other is supply. This demand side of the market draws inspiration from the unlimited wants and needs dimension of the scarcity problem. People desire the goods and services that satisfy our wants and needs. This is the ultimate source of demand.
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DUOPOLY An oligopoly market structure containing exactly two firms. As an oligopoly, duopoly exhibits the oligopolistic characteristics and undertakes oligopolistic behavior, such as barriers to entry, interdependent actions, and nonprice competition. While duopoly, in its purest form of EXACTLY two firms in the industry, is seldom found in the real world, it does provide an excellent, easy to use illustration of oligopoly. In fact, most instructional analysis of oligopoly generally assumes a two-firm, duopoly market.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"We can't take any credit for our talents. It's how we use them that counts. " -- Madeleine L'Engle, Writer
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LRD
Longitudinal Research Database
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