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IMPERFECT COMPETITION: Any markets or industries that do not match the criteria for perfect competition. The key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology. These four characteristics are essentially impossible to match in the real world.
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LIBERAL A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) regulation and control by government over the profit-seeking businesses of the second estate.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"If you don't make mistakes, you aren't really trying." -- Coleman Hawkings,musician
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BQ
Basic Qoute
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