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WAGE: A factor payment to the owner of labor for using labor services in the production of goods and services. Wages are included in the National Income and Product Accounts maintained by the Bureau of Economic Analysis under the official title compensation of employees. Wages is the largest of the four factor payments, accounting for about 70% of the income earned by the household sector. The other factors of production (and their corresponding resource) are: interest (capital), rent (land), and profit (entrepreneurship).
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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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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for telephone calls from long-lost relatives.
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In the early 1900s around 300 automobile companies operated in the United States.
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"I love the man who can smile in trouble, who can gather strength from distress and grow brave by reflection. " -- Thomas Paine, statesman
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