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VERIFIED PRINCIPLE: A generally accepted, verified, fundamental law of nature that has been tested against and verified with real world data. A verified principle begins as an hypotheses implied by a theory, which is then compared against real world observations. If the hypothesis is consistently supported by data, it achieves the rank "verified" principle. This should be contrasted with unverifiable axiom.

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MONOPOLISTIC COMPETITION, CHARACTERISTICS

The four key characteristics of monopolistic competition are: (1) large number of small firms, (2) similar but not identical products sold by the firms, (3) relative freedom of entry into and exit out of the industry, and (4) extensive knowledge of prices and technology.

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BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either rechargeable batteries or a rechargeable battery for your computer. Be on the lookout for the last item on a shelf.
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In the early 1900s around 300 automobile companies operated in the United States.
"Argue for your limitations, and sure enough, they're yours."

-- Richard Bach

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