Economic Glossary | Public Utility | Bankers Algo
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-by Theodore Roosevelt

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4, 6, 12, 14, 28, 30, ?

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Economic Glossary

    Public Utility

A firm providing essential services to the public, such as water, electricity and postal services, usually involving elements of NATURAL MONOPOLY. Food is essential, but because it is provided in a competitive market, food SUPPLY is not usually regarded as a public utility. Because public utilities have some MONOPOLY power, they are typically subject to some REGULATION by GOVERNMENT, such as PRICE controls and perhaps an obligation to provide their services to everybody, even to those who cannot afford to pay a market price (the universal service obligation). Public utilities are often owned by the state, although this has become less common as a result of PRIVATISATION.


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Word of the day

Endeavour(v)

Meaning:

to exert oneself to do or affect something; make an effort; strive

Synonyms: aim, best shot, crash project, dry run, effort, enterprise, essay, exertion, fling, full blast

Antonyms: idleness, laziness

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The boys and girls in a college are in the ratio of 3:2. If 20% of boys and 25% of girls are adults, the percentage of students who are not adults is?

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