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OVERT COLLUSION: A formal, usually secret, collusion agreement among competing firms (mostly oligopolistic firms) in an industry designed to control the market, raise the market price, and otherwise act like a monopoly. Also termed explicit collusion, the distinguishing feature of overt collusion is a formal agreement. This should be contrasted with implicit or tacit collusion that does not involve a formal, explicit agreement.
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ECONOMIC THINKING A way of looking at and analyzing the way the world works by comparing the cost of an action with the benefit generated. The study of economics is the process of economic thinking about issues related to the scarcity problem.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Don't judge each day by the harvest you reap, but by the seeds you plant." -- Robert Louis Stevenson, Author
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EFTS
Electronic Fund Transfer Systems
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