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MARKET CONTROL: The ability of buyers or sellers to exert influence over the price or quantity of a good, service, or commodity exchanged in a market. Market control depends on the number of competitors. If a market has relatively few buyers, but a bunch of sellers, then the buyers tend to have relatively more market control than sellers. The converse occurs if there are a bunch of buyers, but relatively few sellers. If the market is controlled on the supply side by one seller, we have a monopoly, and if it is controlled on the demand side by one buyer, we have a monopsony. Most markets are subject to some degree of control.

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INCREASING MARGINAL RETURNS

In the short-run production by a firm, an increase in the variable input results in an increase in the marginal product of the variable input. Increasing marginal returns typically surface when the first few quantities of a variable input are added to a fixed input. This is one of two alternatives for marginal returns. The other is decreasing marginal returns. A related phenomenon for long-run production is increasing returns to scale.

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YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for high interest rates.
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This isn't me! What am I?

The word "fiscal" is derived from a Latin word meaning "moneybag."
"Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth ‚ and his humanity. "

-- Peter Drucker, author

FCLT
Functional Central Limit Theorem
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