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REAL PRODUCTION: The market value of all production measured in constant prices, after adjusting for inflation. Real production is typically measured with real GDP.
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MARKET STRUCTURES The manner in which markets or industries are organized, based largely on the number of participants in the market or industry and the extent of market control of each participant. Perfect competition represents the benchmark market structure that contains a large number of participants on both sides of the market, and no market control by any firm. Three market structure models with varying degrees of market control on the supply side of the market are: monopoly, monopolistic competition, and oligopoly. Three lesser known market structures with varying degrees of market control on the demand side of the market are: monopsony, oligopsony, and monopsonistic competition.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for jovial bank tellers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success. " -- Pablo Picasso, artist
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IBRD
International Bank for Reconstruction and Development
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