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FALLACY: A logical error in an argument or evaluation of a policy. The six common fallacies that surface in economic analysis are: false cause, personal attack, division, composition, false authority, and mass appeal. These fallacies are most troublesome because, although false, they seem correct, especially when used by a slick-talking, charismatic person (politician) or when the fallacies support a preconceived notion or fundamental belief.
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DUOPOLY An oligopoly market structure containing exactly two firms. As an oligopoly, duopoly exhibits the oligopolistic characteristics and undertakes oligopolistic behavior, such as barriers to entry, interdependent actions, and nonprice competition. While duopoly, in its purest form of EXACTLY two firms in the industry, is seldom found in the real world, it does provide an excellent, easy to use illustration of oligopoly. In fact, most instructional analysis of oligopoly generally assumes a two-firm, duopoly market.
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PINK FADFLY
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Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for deranged pelicans.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Everyone's got it in him, if he'll only make up his mind and stick at it. None of us is born with a stop-valve on his powers or with a set limit to his capacities. There's no limit possible to the expansion of each one of us." -- Charles M. Schwab
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ABE
Association of Business Executives
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