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ADVERSE SELECTION: When a negotiation between two people with different amounts of information, that is, asymmetric information, restricts the quality of the good traded. This typically happens because the person with more information is able to negotiate a favorable exchange. This is frequently referred to as the "market for lemons."
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PRODUCT DIFFERENTIATION Slight differences that exist between two or more goods that are essentially the same and which satisfy the same basic want or need. This is generally pursued in monopolistic competition and oligopoly by firms seeking to increase sales and profit. Many of the best known businesses in the economy practice product differentiation to gain an advantage on the competition and to acquire a bit of market control. For example, Coca-Cola and Pepsi-Cola are very similar, but each has a few differences in terms of taste, packaging, and esteem.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for a thesaurus filled with typos.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Always vote for principle, though you may vote alone, and you may cherish the sweetest reflection that your vote is never lost. " -- John Quincy Adams, 6th US president
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ERISA
Employee Retirement Income Security Act of 1974
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