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OLIGOPOLY: A market structure dominated by a small number of large firms, selling either identical or differentiated products, and significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition.
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GOVERNMENT FAILURES Inefficiencies in the allocation of resources attributable to imperfections in the operation of governments. Government failures are based on the utility-maximizing behavior of politicians, voters, nonvoters, special interest groups, and government employees. The identification and analysis of government failures is central to the study of public choice and offers something of a counterbalance to government actions designed to address the inefficiencies of market failures.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for a thesaurus filled with typos.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Nearly all men can stand adversity; but if you want to test a manžs character, give him power. " -- Abraham Lincoln, 16th U.S. President
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