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INDUSTRIAL ORGANIZATION: The manner in which a market or industry is organized or structured, especially in terms of the competitiveness of the firms making up the market or industry. This phrase is also used to mean the economic study of the organization or an industry. When used for the competitiveness of a market, the term market structure can be used interchangeably. Industrial organization is concerned with the competitiveness of market, what this means for market control by buyers or sellers, and how this affects the efficiency of production.
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ALLOCATION The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"You are the only problem you will ever have and you are the only solution. Change is inevitable, personal growth is always a personal decision." -- Bob Proctor, Author and Speaker
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AIC
Akaike's Information Criterion
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