|
|
ABSOLUTE ADVANTAGE: The general ability to produced more goods using fewer resources. This idea of absolute advantage is important for trading that occurs between both people and nations. A nation can get an absolute advantage from an advanced level of technology or higher quality resources. For a person, an absolute advantage can result from natural abilities or the acquisition of human capital (education, training, or experience).
Visit the GLOSS*arama
|
|

|
|
|
COLLUSION, EFFICIENCY Colluding oligopolistic firms generally produce less output and charge a higher price than would be the case for a perfectly competitive industry. The efficiency of colluding oligopolistic firms is essentially the same as that for monopoly. In essence, colluding oligopolistic firms function just as if the market is a monopoly. The price charged by the colluding firms is higher than the marginal cost of production and the quantity is less. Most notably, price is greater than marginal, a violation of the key condition for efficiency.
Complete Entry | Visit the WEB*pedia |


|
|
RED AGGRESSERINE [What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a revolving spice rack or a how-to book on home repairs. Be on the lookout for poorly written technical manuals. Your Complete Scope
This isn't me! What am I?
|
|
|
In the early 1900s around 300 automobile companies operated in the United States.
|
|
|
"If you wouldn't write it and sign it, don't say it." -- Earl Wilson, Columnist
|
|
CAF Cost and Freight
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|

|