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BANKRUPTCY: A legal declaration that the liabilities of a proprietor (individual), partnership, or corporation are greater than assets. In other words, a consumer or business that is unable to pay the bills can go to court and be formally declared bankrupt. The impetus for entering a court can come voluntarily from the deadbeat who has acquired more liabilities than assets, or involuntarily from the creditors who have been unable to collect from the deadbeat.
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PRICE MAKER: A buyer or seller that possess sufficient market control to affect the price of the good. Price market should be compared with the alternative, price taker. From the selling side of the market, a monopoly is the best example of a price maker. As the only seller in the market, a monopoly firm has the ability to control the price. Firms operating under oligopoly and monopolistic competition are also price makers, although to a lesser degree, depending on their relative market control. From the buying side of the market, a monopsony is also a price maker. As the only buyer in the market, a monopsony firm is able to control the price. Firms operating under oligopsony and monopsonistic competition are price makers, also to a lesser degree. See also | price | market structure | price taker | monopoly | oligopoly | monopolistic competition | monopsony | oligopsony | monopsonistic competition | price leadership | natural monopoly | regulatory pricing | antitrust laws | monopoly and demand |
Recommended Citation:PRICE MAKER, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 16, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: price maker
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SLOPE, AGGREGATE EXPENDITURES LINE The positive slope of the aggregate expenditures line is the sum of the marginal propensity to consume (MPC), marginal propensity to invest (MPI), and marginal propensity for government purchases (MPG), less the marginal propensity to import (MPM). This slope is greater than zero but less than one, reflecting induced expenditures by the four macroeconomic sectors (household, business, government, and foreign). The slope of the aggregate expenditures line determines the magnitude of the multiplier process.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Try not to become a man of success but rather to become a man of value. " -- Albert Einstein
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GSP
Gross State Product, Generalized System of Preferences
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