Economic Definitions

Auction - a method of selling in public by letting intended buyers compete with each other y making bids (offers of money) - sauce, drain Bear market - the market for securities where speculators sell shares because they expect a fall in their prices - med©did try Black market - illegal trading in goods and services that are scarce, either because supplies are officially rationed of forbidden, or because prices are controlled by government order - terry try Bull market - the market for securities where brokers speculate on a rise in their prices - belle Capital market which deals in short-term loans - capita¤love try Commodity 1 . An article of trade resulting from the process of production 2. Primary product surround, commodity Commodities market - drug Gobi, Worker - a market in which commodities (esp.. Food and raw materials) are bought and soled - subjoin (commodity) try Economic loss - the financial harm or disadvantage in business - hyssop¤sis¤ CTR¤TA Equilibrium price - the price at which the quantity demanded equals the quantity supplied - roving¤in¤ cent Foreign exchange market - the market in which the currency of one country is exchanged for the currency of another - devotion try Incentive - something that motivates people to action or effort - podia Labor market - the market for the services of workers - try pr¤CE

Real estate market - the market for land and buildings - try s nepotisms Resource allocation - the choosing of the particular use to which a scarce resource is put (locale) oozedј Revenue - paid©love¤in - money received by a firm from the sale of goods and services - proper firmly Securities market - a market where shares, bonds and other kinds of securities are traded - try s Stock Exchange - an organized market where securities are bought and sold under fixed rules - Burma chance pairј Intimidation law - a law that seeks to control market structure and the competitive behavior of firms - promotional z¤Kong Barriers to entry - anything that prevents the entry of new firms into an industry Bond - prep¤sky pushup - a form of fixed-interest security issued by central or local governments, companies, banks or other institutions through which a borrower is obligated to pay the principal and interest on a loan at a specific date in the future - dollhouse Competition - the presence in a market of a large number of independent buyers and sellers competing with one another and their freedom to enter and leave the market - concurrence Economies of scale - a decrease in per-unit cost as a result of an increase in output - јspoor z auroras

Imperfect competition - a state of competition in a market in which buyers and sellers have imperfect knowledge of the market and there is a lack of freedom of movement of factors of production from one industry to another - neonatal¤ concurrence Merger - Joining together of two or more companies - fјzee Monopolistic competition - a market in which many firms produce similar goods or services but each maintains some independent control of its own price - monopolistic¤ concurrence Monopoly - the situation in a market in which there is only one supplier of a commodity and he therefore face no competition - monopoly Natural monopoly where technical factors make the efficient existence of more than one producer impossible - pepperoni monopoly Oligopoly - a market which is dominated by a few large suppliers - oligopoly Pure (perfect) competition - a market model that assumes a large number of buyers and sellers, a homogeneous product, complete freedom of movement of factors of production from one industry to another, and full knowledge of prices and technology - twist¤ (diagonal¤) Quota - a limit placed by the government on the amount of imports or exports of a particular article or commodity - xv¶TA