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INDUSTRIAL ORGANIZATION: The manner in which a market or industry is organized or structured, especially in terms of the competitiveness of the firms making up the market or industry. This phrase is also used to mean the economic study of the organization or an industry. When used for the competitiveness of a market, the term market structure can be used interchangeably. Industrial organization is concerned with the competitiveness of market, what this means for market control by buyers or sellers, and how this affects the efficiency of production.
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On The Lookout For A RECESSIONOne pitfall facing any pedestrian who explores the intricate details of the economy is large potholes lurking along the path. LOOK OUT! You can probably expect a few bumps and bruises from abruptly introducing your face to the pavement. But, after the cast hardens and the gashes have been stitched, you can be on your way. A little more experienced, no doubt, but forging ahead in spite of it all. Our economy also steps into an occasional pothole in route to an expanding economic pie. Recession is the nifty term we use for this sort of economic pothole and it will be are our topic for the next few pages. OH NO! LOOK OUT!
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for gnomes hiding in cypress trees.
Your Complete Scope
This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"We can't take any credit for our talents. It's how we use them that counts. " -- Madeleine L'Engle, Writer
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WAPM
Weak Axiom of Profit Maximization
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