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OLIGOPSONY: A market structure dominated by a small number of large buyers controlling the buying-side of a market. Oligopsony is the somewhat obscure and seldom discussed buying counterpart to an oligopoly seller that controls the selling side of a market. Whereas oligopoly is most relevant to product markets, oligopsony is most relevant to factor markets.
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DERIVATION, SAVING LINE A saving line, a graphical depiction of the relation between household sector saving and income, can be derived from the consumption line. The saving line can also be derived by plotting the saving-income information from a saving schedule or using the slope and intercept values of the saving function. However, derivation from the consumption line emphasis the connection between consumption and income--that the household sector uses a portion of income for consumption and a portion for saving.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for slow moving vehicles with darkened windows.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"A man is not finished when he is defeated. He is finished when he quits. " -- President Richard Nixon
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KLIC
Kullback-Leibler Information Criterion
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