perfect competition: a market for uniform products in
which there are many buyers and sellers, no one of which is
big enough to affect the price, and full knowledge of market
conditions.
physiocrats: thinkers in 18th-century France who
believed that because natural resources were the source of
wealth, it made little sense for government to promote
business.
picketing: effort by unions to inform the public of a labor
dispute by parading in front of their workplace with signs
listing their grievances.
poison pill: companies resort to poison pills when so-
meone is trying to take them over. To discourage the suitor,
the takeover prospect takes on a heap of new debt or does
something else to make the stock less attractive.
