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OLIGOPOLY, CONCENTRATION: Oligopoly is a market structure that contains a small number of relatively large firms, meaning oligopoly markets tend to be concentrated. A small number of large firms account for a majority of total output. Concentration unto itself is not necessarily bad, but it often leads to inefficient behavior, such as collusion and nonprice competition. Concentration is measured in three ways--market share, concentration ratio, Herfindahl index.
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SELF CORRECTION, RECESSIONARY GAP The automatic process in which the aggregate market eliminates a recessionary gap created by a short-run equilibrium that is less than full employment through decreases in wages (and other resource prices). The self-correction mechanism is triggered by short-run resource market imbalances that are closed by long-run price flexibility. The self-correction process of the aggregate market also acts to close an inflationary gap with higher wages (and other resource prices).
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for malfunctioning pocket calculators.
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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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"The world is not dangerous because of those who do harm but because of those who look at it without doing anything. " -- Albert Einstein, physicist
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BLS
Bureau of Labor Statistics
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