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October 9, 2026 

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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.

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COMPETITIVE MARKET

A market with a large number of buyers and sellers, such that no single buyer or seller is able to influence the price or control any other aspect of the market. That is, none of the participants have significant market control. A competitive market achieves efficiency in the allocation of scarce resources if no other market failures are present.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for pencil sharpeners with an attitude.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
"There's only one corner of the universe you can be certain of improving and that's your own self. "

-- Aldous Huxley, writer

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