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EIGHT-FIRM CONCENTRATION RATIO: The proportion of total output in an industry that's produced by the eight largest firms in the industry. This is one of two common concentration ratios. The other is the four-firm concentration ratio. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and how market control is held by the eight largest firms in the industry.
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SHORT-RUN AGGREGATE MARKET A macroeconomic model relating the price level and real production under the assumption that SOME prices are inflexible, especially resource prices. This is one of two aggregate market submodels used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The other is the long-run aggregate market. The short-run aggregate market isolates the interaction between aggregate demand and short-run aggregate supply. The key assumption of this model is that SOME prices, especially resource prices, are inflexible. The primary result of this model is that the economy can achieve short-run equilibrium at real production that is either greater than or less than full-employment.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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