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ANTITRUST: The generally process of preventing monopoly practices or breaking up monopolies that restrict competition. The term antitrust derives from the common use of the trust organizational structure in the late 1800s and early 1900s to monopolize markets. The most noted example of the use of a monopoly trust was the Standard Oil Trust, controlled by J. D. Rockefeller and dismantled through the Sherman Act in 1911. The creation of similar monopoly trusts led to the several antitrust laws, including the Sherman Act, the Clayton Act, and the Federal Trade Commission Act.
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PERFECT COMPETITION An ideal market structure characterized by a large number of small firms, identical products sold by all firms, freedom of entry into and exit out of the industry, and perfect knowledge of prices and technology. This is one of four basic market structures. The other three are monopoly, oligopoly, and monopolistic competition. Perfect competition is an idealized market structure that is not observed in the real world. While unrealistic, it does provide an excellent benchmark that can be used to analyze real world market structures. In particular, perfect competition efficiently allocates resources.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a blue mechanical pencil or super soft, super cuddly, stuffed animals. Be on the lookout for broken fingernail clippers.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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SELA
Latin American Economic System
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