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MARKET SHARE: The fraction of an industry's total sales accounted for by a single business. In general, market share is a "first-guess" indicator of a firm's market control. If, for example, a company has a market share of 100 percent (that is, a monopoly), then you can rest assured it has a substantial amount of market control. A company with a 25 percent market share has less, but still notable, market control. In fact, when you get right down to the bottom line, the phrase "market share" is only worth mentioning for oligopolistic firms with a significant degree of market control. There really is no market control for a monopolistically competitive firm with a 0.00000001 percent market share.
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INELASTIC DEMAND The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity demanded. Large changes in price cause relatively small changes in quantity demanded or the percentage change in quantity demanded is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of demand. Inelastic demand is one of two general elasticity relations for demand. The other is elastic demand.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either a video camera with stop action features or one of those memory foam pillows. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"The truth of the matter is that you always know the right thing to do. The hard part is doing it." -- Norman Schwarzkopf, US Army general
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AACT
American Assocation of Commodity Traders
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