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PERFECT COMPETITION CHARACTERISTICS: The four key characteristics of perfect competition are: (1) large number of small firms, (2) identical products sold by all firms, (3) freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology. These four characteristics mean that a given perfectly competitive firm is unable to exert any control whatsoever over the market.
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DATA Observations or measurements that quantify or otherwise identify some aspect of the real world. Data are used to track economic performance, quantify economic characteristics, and test economic hypotheses. Data collection is often the most challenging part of undertaking an empirical analysis.
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The Risky Business Of INSURANCEWe've avoided the clutches of Smilin' Ted, the insurance guy, during our saunter through economy, but our luck has run out. Here he comes, ready to offer you, me, and everyone else within earshot the chance to buy auto, health, life, and property insurance. If you really, REALLY care to ask, I'm sure that Smilin' Ted has other insurance possibilities as well. But, I'm not going to ask. If YOU want to know, then YOU have to ask.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy." -- Martin Luther King, Jr.
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SSAP
Statement of Standard Accounting Practice
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