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REGULATORY FORCES: Forces in the marketing environment that depend on various government regulatory agencies that impact how an organization operates on a daily basis. An example is the Federal Trade Commission (FTC), which monitors advertising, deceptive labeling, and false or misleading information. Agencies such as the FTC have powers to enforce regulations through fines and other penalties. Other regulatory agencies are: Food and Drug Administration (FDA), Federal Communications Commission (FCC), Environmental Protection Agency (EPA), and Consumer Product Safety Commission (CPSC).
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EFFICIENT The state of resource allocation that exists when the highest level of consumer satisfaction is achieved from available resources. This state can be accomplished through markets when the price buyers are willing and able to pay for a good--based on the satisfaction obtained--is equal to the price sellers need to charge for a good--based on the opportunity cost of production.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for a thesaurus filled with typos.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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JRE
Journal of Regulatory Economics
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