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OLIGOPOLY CHARACTERISTICS: The three most important characteristics of oligopoly are: (1) an industry dominated by a small number of large firms, (2) firms sell either identical or differentiated products, and (3) the industry has significant barriers to entry.
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RECESSION A phase of the business cycle characterized by a general period of declining economic activity. A recession is one of two basic business cycle phases. The other is expansion. The transition from recession to expansion is termed a trough and the transition from expansion to recession is termed a peak. The technical term for recession, which is generally used by economists and policy makers, is contraction.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for slightly overweight pizza delivery guys.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out." -- President Ronald Reagan
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AR(N)
A nth-order Autoregressive Process
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