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OLIGOPOLY: A market structure dominated by a small number of large firms, selling either identical or differentiated products, and significant barriers to entry into the industry. This is one of four basic market structures. The other three are perfect competition, monopoly, and monopolistic competition.
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LAW OF DIMINISHING MARGINAL RETURNS A principle of short-run production stating that as a firm combines more of a variable input with a fixed input, the marginal product of the variable input eventually declines. This is THE economic principle underlying the analysis of short-run production for a firm. It offers an explanation for the law of supply and the positive slope of the market supply curve.
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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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"He who hesitates is poor. " -- Mel Brooks, writer, director, comedian
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LF
Labor Force, Laissez-Faire
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