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OLIGOPSONY: A market structure dominated by a small number of large buyers controlling the buying-side of a market. Oligopsony is the somewhat obscure and seldom discussed buying counterpart to an oligopoly seller that controls the selling side of a market. Whereas oligopoly is most relevant to product markets, oligopsony is most relevant to factor markets.
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EXCHANGE The process of trading one valuable commodity (good, service, or resource) for another. An exchange can be voluntary, such as what transpires through a market, or involuntary, such as when taxes are imposed by government.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius seeking to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for infected paper cuts.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"If you don't have time to do it right, when will you have time to do it over?" -- John Wooden, Basketball coach
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KCBT
Kansas City Board of Trade
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