A bear market is a prolonged period during which investment prices fall and widespread pessimism causes the negative sentiment to be self-sustaining. A bear market typically describes a condition where security prices fall 20% or more from recent highs.
Fiat money is a type of currency that is made legal tender by government law or regulation, without backing by a physical commodity like gold or silver. Its value derives from the trust and authority of the government that issues it.
Free goods are items that are naturally abundant and available to satisfy demand without requiring rationing or a market price, such as sunshine. They are contrasted with economic goods.
Hoarding refers to the excess accumulation of commodities or currency in anticipation of scarcity and/or higher prices, often leading to market distortions.
An oligopsony is a market structure where a small number of large buyers exert a significant control over the purchase of products from numerous sellers. This imbalance of power typically impacts pricing and bargaining dynamics.
