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

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