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EIGHT-FIRM CONCENTRATION RATIO: The proportion of total output in an industry that's produced by the eight largest firms in the industry. This is one of two common concentration ratios. The other is the four-firm concentration ratio. The eight-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and how market control is held by the eight largest firms in the industry.
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PRICE CEILING A legally established maximum price that is imposed on a market BELOW the price that otherwise would be achieved in equilibrium. A price ceiling is placed on a market with the goal of keeping the price low, presumably based on the notion that the equilibrium price is too high. If imposed on a competitive market free of market failures, a price ceiling creates a shortage, or excess demand.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for telephone calls from former employers.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"I have no expectation of making a hit every time I come to bat. What I seek is the highest possible batting average." -- President Franklin Delano Roosevelt
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APR
Annual Percentage Rate
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