MARKET POWER: : : d = | AN Suppbions wot to be pe no tay a bate MARKET POWER: Abidby +0 diokats / unplaane foeican woakut « i Han hay alt He pow nfo ounkol me pice on HE Wad Lit; Kesping Jin Wand knaunes UOOWM OMA . ge x= aurnaonok dust ja Avalos, por bersfile te Hu inwloadinly of poonuck hapa toe abla nal G fam puducing He pan clark de You tak Kone a. quate pinaae aulldag ak pd wl | a dastraky < | ~~ ee itatineliy 3 2) BOOKER KHHDHHHHHEHEHHEESE MReme but pin Ply) 8 TR= FXG - Laie TR = peg > aMARKET POWER: : : d = | AN Suppbions wot to be pe no tay a bate MARKET POWER: Abidby +0 diokats / unplaane foeican woakut « i Han hay alt He pow nfo ounkol me pice on HE Wad Lit; Kesping Jin Wand knaunes UOOWM OMA . ge x= aurnaonok dust ja Avalos, por bersfile te Hu inwloadinly of poonuck hapa toe abla nal G fam puducing He pan clark de You tak Kone a. quate pinaae aulldag ak pd wl | a dastraky < | ~~ ee itatineliy 3 2) BOOKER KHHDHHHHHEHEHHEESE MReme but pin Ply) 8 TR= FXG - Laie TR = peg > a(p- Mc) = al4 al rae abs (Pe) € €~ €- e REMC 5 Cou Mongin — Pa. 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OudGo, volo TRB wh te fp pom finaly settle lou 9 Kpile Murlut , vowey fo opponent Hyd meen dicaton - Example SomeHuy b whicr Q D mS poudliely to os eae tha Uys HE BRE Dk “Haw oppor way Chay Hur poe: =e eng uy buont, a Lim tan Corannunneal de on poms Iprw ve opponent cows +4 at Hay Cont chon 1 bon. }: WW ow. : : OSE LLESRul af “Thundo i oe polemical Werapolinta ( c)/P = 4/abs tfe) A )= abealule CP Mc) /f Jabs (fe die o fou jm te um . Mot fo mont . fe Ne laa abs(Fe) Exanyl * fo = 4 Pm Me eae Pe 2Me @ fee =6-5 * 62 ye value. Not postible d ve One wioalainny witha urea, olmanol ume fo convenience . eharticitg vit varies oblong the Daineay-(0 29) so eee Pla eee tine cxtpet ony cit tg SCOT SSSHEH HOHE HKHKHECEHHECOEE eH 1 obs Che) >I. it a Buk Monel Wrlet Pour 7 wien Ru @~ 1 monepolisls wold Site 1 wore im Wanhels tret aye Duy @ Usstic - “Thu, Lipkly S) appa 1 04 poate, a THE HUNTING GROUNDMortouy Pater Puig Wak 7 Aypictprons hese $a) ot Braatay Cond Ve te ae tettuge Tuthonte $10 95 foe ee gos Wu zx Peporn inmer'e poy Than - = dap ‘onl Monketr: Commun & Proc dvy.the wegulstor har to wey aut fu didle loot W, welys Regulator thin’ +o wont buon ipl Cowytlitin, to pofectty Compulite, e€eeee SD Ruguloding awtrvanily—— Cy teleeorm of ribiny , Sty CHC” ~. ( Uy Comcir about He quiatanh “e ne CLM. “D> (€ » Biser palo aoe Wing Wat We com sudyo Hue 9 cead wight Each” omuuwnnth gid a Bites Hae he “Dom pay, tre ts axe) “0 Ce ea Ole, Aaa MRe MC ° gagse en) | » Da i Tolls ideanus, mor” 9 Mey Nef reas MC tlioaile in tre Sevice Induitry. - S Se ~ Ganot be es rods hy, 2 24 i a Se 9 4 ; ? : 2 [2 agra Pac disorminaluon — Price found por = oli Orwmy | - > Vani arty |. ‘ is = Al f / ea: Wabhury wrarhine wodels; dado Wnty ~~. 3 Fee Mirth wrivotion- Price oli ° ee rade J- pags heathen willtinyrvi +p no iad divas ta pa duet , for WMD | Wee ' F . “a BR coc — pico et MON Clift etn cola Coes4 Flechnety difernnk walu for damutic © Snduiaiad © Peyshots Ww, Wo anbitrage um betywoan +p Wave - uy give industenl Hu dower (beni « —s Mork ee ‘Thea uanunt Bad Mua — The dynos qf clon conturntridion we SS CR Ratio” H~ qudop. pies 8/415 fiom 7 Herfind ahd ConCiinhss nati (ole Hgonun Z ee ; aye Thee 8 parva ; Onrounge sun dacendung Order, dnd Hien lovk at Hd ShoreyTe bi in Mt mmket — Prenfitauilig >, EConown wy a cabe (Seale) th cip29 Sdeally we woudl qe os bith. Aut ranted wh oth ©0666 CCEE ay Heupe Marop oly _ ae : Porat tant tly Scalability * I i ——_ > Mantet Pouser/ Evowowtls Sige ol Mg High Mankaup of stole ne dew Elta Menopoly » MANO’ Effest — Demand sicte Chora dots - hy fain Ha AL olny = Entry Mu Arnona ~ Paofite ane With & Aurtoumally oven a bony prio d. What Castes monopoly: & EReIC diomenad —Vionopoly Lecoune 9 paitowtt /2P | J i = becom of otha onlouy bavuens Pecayse af eepnownin of seats on the sayy adda 40 towers Nn ( y thon ea wplott , bi pictiing SRBEMods Dionus e =\Wlovwinlk, Facebook, Twitter, Whatranp, Ube. — Somme Huny a wot an we todihonol chonactarthed a ME eo Huwork oct Fecomomivn oy scale on Me domand \gu if = ( shot 4 < . 10, ie Networ £ Peek = Lai) tilt loloc ts Con — Nebwou Hae . Suyy betas in lyn buns Somand 1 > Supgly P % Dumameh T > Sapghy 7 7 Rinausl = Aynason ; Aimbwb , Wher, Pout rowaly twisty ie: — Moun af woe Swodun eli" Ko dutiadwe, dpennibe OrdWoht wwii d +o wow na 897 ‘ DOI GNSes)vek ok Alas = lunar act 0. cfectitaton /eatalysiy ° a Aras tation nani, haat, ylloe oe = Platform Own pusnndos OO (akforn, who pootedpme (ply /dumaws) Cn intr, pike a Market plau , Guppy — Wh, Gwvie Prov, , Hort , Comey Creator bumomol = tv Reeoivin , Cum , Wntent Commune Exons - Busy teller Cotx) » Suvi ( Fauelanan) , Hoat / oust (AibrB), tyutent (Faceboyle; Twitter, Netflix, YouTube) -- — Plriform ownin dn mapper “ty moianctiin Piakgven Neutrality) fic 4 ylotynrm to Say Long . is, eae fate? ( Rend “the Aatiele~ Medeviel France Manlkd place TOW) ath Ory hapyuun bw Ms Jecomnr sf Me esi 4 a COCCSCHOSCEE Piso Ruudnom — emeate valour by ¢ 5 Wrsar vb Pigott Burtner a ; of ahvine | q ee — tarenkpahagide , st ow ee fre wile oly nwt Krew whal howpencry £ people oilails Apne Kugw who Mppesinng ide. ~ Put Copital, Lobouh ete. din pple — gt oufut. 45- Tote Mobo , Appl. handast. eeee Hakfornn Busine - Carato vole My prsriole 9 platform fo4 pant Cin donts te indinack = Open - r — pul on Hane Saud owner ola wot dun’ ths pletfonm . ~ people insidt ond outitole luact . = =~ Baxi! Banewe have gyal Businane - Woh fixed dank woub sack Noon Zan Mon gina Corts ‘oe ret Coovomies 4 seh On We copy vole. date, e- Wo Wate capsely Uiyabs « e. ey. Pint Copy Urb "= wort te produc | chtap pode . ye Daguet Poker biscminatons Maron Canin s 4 May wwirmisahon = 6s Aslan paints hang various colour ran for Mass. & Porsowlind posing 2 begour Pale Diodmutnattons Vowlentn at Posters chen V/s Mind Yon Me r ae with vy wil G pr- Externalcves ° Morket, fail On two OlCan now 1. Whey Me on txtunaliha bore Aue NLC Goody ( redweH nachions of One Prwblowr with bdP oy * weltane Wuosiune © 6-bP Morket Pres Poder — wllfone blipwnnle on Aveauurnpditon pirol wot Comb, — With global Apply chains — Problown e = nine sbi? a Aker not take inte considinbin Wrmtorrgd Oualitelue harap i Quakity herd: ees of Qty Puce Purtiote, & hone GDdP — Non wonton Mvomnatlions = OPS — absaibid ty smart phents » OOP gou tp tn Rul it gee up. 4 GPS Kremmen Will Be removed from CoP Lik ee eee oceans hae +ndtotion 4 ws Satta on @& D ban Be Wad Bo On anit fo polity plan - mons+oMd policy plan: : eae : ‘ @ A} ward toy pout @, tun tor ir a Uh ol BS rout a) Diving - yp i iuaplolon on It. ¢ we aia Ure ebm high & Utsuns low puie valu omd fom on Che - ~ you do Om with — uel nook Tem - Not cowiolud da ay of : jon Valo x an Hu ila , Huon pnd the consume. = Coools, Awwiieon , imported goods. f1) Fix Yr barkat ~ Covina owly two Commodities, ey. Rico a Mlk Rp fix He weber - Ru - Kg e y Milk = Der @:) Compute Hae Bobet Wary t- 01S db It yl Rice ‘ky to 36 ole Mark lit do 2g 30 01s: CR 20%15) + (Reeo xen) = & MOD L1G ( 30 9) 1 ( asx) > 2 14S Rpty ie HC 2), (iQ > Bs Thou aut Whe morehty ony lamin by corset fis dato tan It four pone Pe ta Drone yeon to corapuile He Avalon: a. is han: Cornple. tre inal ¢ dls = (1100/11 00) yon © too gore = Clasvf ito) x1ob = 11 SCC OEEE got = (It28/i160)x100 = 16812, Nate Melkrod Shay Oh commedity vn Wvonbly Ong Wore V J Orind + in Hee boat yon = KA 100 Uiiyrog, obi HL ompmnrdiart On LAK itm An es Dove 1 = Riu Rw S00 on Mille. D) Fink va cha tour Tea oe @ rian : QhOnt of produ 2:27 £048 L th sun of predict Wut add 4p to ie WPL — (wholrsal Puitcr disley — Based on Wholesal peta, - Hy oy voy Lee NW consis, of prrodiucrn good 2a ts i. As HH O04 Welt: Se at [9 400d. No senvian, : ; “e Be hthnon formule of ign 38 2s ~ T 3 P- psn > OUdent yun Sa ong - ee yen. =] mp Mosel - > =9 tw onuhy y goods iid vot Wiegand Lug CPE Lienpitse —® byoatet al Vanity woker super more Vallaalile , Mut yt nat cowridliard. 4 6 — Wistitubon boats — cmua & pi 5 GDP Baffalos— raauunsmine ¥ baie Nowinel GPP 100 9 How vauch you clylods Hee aan Wwornival 69° + bas year SOOSCSCEHUY — Oly eueighets dou vot lived am GOP Apron. Anal howe (Lo. uaeihd All He cna of Huyton pon foe ty # Urtit ComaputtliaonOO LULU mercrt vis GDP Ai{lalon fe v Q : € ) Ay os vse [xc an CPL 5 wi ie oa 2 4n Coe def{ntor — owby of Hel onl wf Ht yeaa: bet wit cL Kyun sly. . - Wr forrnigin ae 3 PD cher pow Db ot goows 5 suai yo daatest alyat a 4 ( —— l an YO oh GDP aleflation din yon £ Be bpp diodion dn you 4 CPx in yk = ea / um y CPE yar 1 x 100 Cer un ym 1—— Kujo oe yom AUtpedunt tuny : eee ee@ tmaltxation Roads ~e ‘. + nllstion T wigns git Cornniny ond Reo ans — ban Q AMew ante h tot of molixahon 8 @ Ark on fda) dollars = Auk im ys T dlllau 92 2 Paria Wwe et J Pulver tw im “2 ‘ pT, 2? — Be Ecupwnsic fereadseo “® f Fomuttriny we comnot ~ Erowowie. plustastiow ane Mspalor 2 vapsrdictable — 4 Ly aug upto 7 ef CDRs MG tages lial A jee + Bona [nro ind ua ‘wavertmand gave 2a of dusbivs 0 GDP | puatuaptictey, rte sanestnane aging vere, qpssilly wh Bure ae — Th Ov can dee Loiloush ordy tas ee Joye ove or will, tom a lot wnpredlicdalle iy 4 feak ee - whom = food. Rewttion ign puice Thy Duk ofp | wok Vay (nigh. Supply wet aye ty Bare aly puice t. — 4 wot conbootled ; tro UP cosavon = Ofp Yj vnerpbeymant 1a Be No uynont 4 Voumptag wa :‘e 12/p 6/33. ~@ Sunn cyl i emit, ue Comoe foucont. “eo _ Seonnraliky M a up wong a rote Ond hunw “e Sheulol wot Je tonrrdincol wv burn etl - = SO tujtabion a: Ge ‘bp 7, unm cyol xpoma ~ byt a dnllaron tune Lopes L/ (% ofp P, yao “e h Pinounen , Padus ung — Th in i 3 4yot™ | 4m leiyy ab ams . galt | oid Own mi “9 | Phillipa Cuume ee 9} Manas 2 poe —> WiLL 1470s.- Fine. a - 2 Exgonuien fb, Owkpwst fy depolnen ¢ ~ f 2 5 —® th- who mw Put wot 7 hobs oor whan outornation f oes v “pow 4y Mid 70's - a Lnflatin = sie SR @ t, tf — @ CP Supply J x Op ple } Hines olp ty L ° A yy @ 4, workan demand naa | ~ Ines way 1, ilp pod wot f, Supply by pasier op prt lp qty LWd Maytotion — Wu tn Maton 7 gap but "Bing boy reas ~4r Wt Wont to Laake olp unemgldyrent od SOume ee Lunt , oo J wu have inguase . —Bur b oukhe Wo ell bru o vp & van onlay rah We pra wall T (eps pee) sete he Apo Cetin. AU J {love Lift 49 Hae wont — peer i. Recorsdu : e ~ iw MCUs We qortena a clicHtand un bDP- “o* Andtin, HThe data in Ouly om ytimeton barr ond pot on adul paris— . Aurvey dota. Ti olake in owly athiad J” nove yloh and Bone “ a bas or ohn nhiwn MT inal, on nly woaniny slot i watAd—* dain i poles Owe ewnion, ord will ore eee E —dndig working on purl -toe olata. °° Austerity — Su surusnion, a vo sobs af plsndiytle » We ty . Weduwe uot)» — Audsnity gaan Th os 2 F 9 tun» Mma Woanqroensey Abdo o4A Aoy off 2 dy wernwsn, inslhicient ongavigaeiorn Oat wipcal gut. Only int wo. re fouriney dunowell Austsrity - prvon - poet hobluchén- Aratepia — Orgairig aliens Worle en thin Alinsng Mewbiona tL ee Mamouating woo parm worn: biloyaife alin of twin oun & Orn waar Es > Showing Maing» ODling of marr COSC LEToe Ware wOrlur at (ow Cost: New lebour a would ok Low judul & to howto i Vv Sabov.eny V Dold = aw — B39 Sy tal Gre Q2 dv ao-al — Ra 93-18 — Sapper Hue sre tr come back to doi-ao loves -= drulig exports goods R tyvins pr ah of GPP — 1e-43y don onky ~ do. 967, s§ [a bontrart — 11S + 847. (Aingapot no, | Lyons — 144-637. a 4, duxumbsrs —Theasling Ccowsrry — won vulnralle 8 Meese COCKE ETEEEEH e = Det oa vis Hal Lonel MAM — Here 7 Nee es Blea) Kbov- ws piry polis - ees al nocd i) Movslouy policy - Cenbiod Pons uit CREE an > EES, ween BP typhi voles tate) Supp Ned] 2) Bist poly Got = Govt Une (01 vodluction jin apunthing) , TARY , 1 Blvd of both. Po oe ie eat) . hod ty dnflottiion. Put wt abo om dbyeeine Gidin to mange boin— aroule + Inbtatiton Buk in US qumuill | chanel yhowee Clank bank wn Ys ssi peeves an Lather ral vis Suvdoped | COOSEEEE EEE OS, > Monny Q Yu Monttony Aula. i r = Fo Ww aagnagalr eoonowy to work ofpideill We wd * VG’ J asd oO wodium af UXAIMYL « vi 4 a pnidizest economy (alt won LP Oa i We wedi: of exchovape- Cornmodits Manny ~ When wey Heken Ye foam of 0 " Lovnnwod'ty with yatrinnde wabuo « cig nsutln, Cold, etc. ; ,fold toda, gold Uy wk Wad as Wwoney. But bine Jd iely Ha Manny Monty with wo Whhrinric valun« dk on wevty ey govt. doesn , and so Seiday lk pp eg at Herd gy U CCCCCECEEEE K Ato of Wovuy s) Inve yranay 8 Sweat wernby > Poe a) Miovey + bunand pO iMerney = pune of pu ES ) dunt Rute, - Time Valine — SBahilciny pnuct vrsuagtion (4 jie 2) Snffotisro| Deflatirn OO eee 3) Ex howe Raikes p, Aiont y a Run baba nilion of Avlnyt Palo — SS \ Demond Aupgly Equitibnun of ROE Bi ry df Argaiol fifeante Quomeity intowst ole, we damon fuss of i waanny (idly tore Hote, we Apmansl al vege a 0 - . ” Won ulation | / P 2 doporish with ROD | 1% Mo— Nomow Manny ‘ Mz &£My — Bro ° My — Brood Oe It $0 Waydot Mo= i L ae Tie beposials (2D) wits war liquid mMO_O iE W Mex (Moy Curennuy wn Cratation + Bom clinorita wih Ker ND yd OM, diposial with RST 1s poclaas My - Cuvuney wile public + Demand olypounts with tL Bomiiry sustom (oun ink , sewin4 ) + 6HAIA of we wilh Rex Mp = Mit Soviny lenpaials | pot offi saudag b b HWAL an 4nsia yr Mg = Mi + me oaks wilh Bonlocry system Deposit Loam . ‘ tha My = M34 au olupesiods wilh pot offite saving babs — Joke Menon. - ame |e (he bank fy povi de ue savite— ovly fon Sif airy ea mg ES PT 10% sustawer. — do mot Unfluonee Monroy Sumphy = tradugrel Ree Myelin — The Ctrl Bank Acts a 2 leg Wanirnum + bom op wt Hum out of carr — Korone. = Bons hold ay = pucon of laporists ONO Fin — Tht Reswwe Roto - Cah Ruwwe Ratio CRR. COOP O HELE EE essEEeTTsEsE | - ce : § H= too Ri: @ 107. m Regus Sus Rene, Aiea - Kabilit Ram — yo — 70 ay loan ju teleen WA ML paason amd Kept 94 Bond = Thun ie vow bone Kerf? Mi Diporints ~ [bv alvin im Quant le ; oy Reuwt- kus Rass — 4= During Riwrion — Redua R d . Ywovwy on auylom Hopes 9 Chany ar? .), won R — Corbut Ban _trob for Moncton Covel OL cee . Qe ' Stotutony Maid La tis SLR — Win 7. npuonanty toot vommnual hank maunkocns Huong gala took olin Atuyhe. 4itwurt Rete bow CRK— Bank deer not ann unlrert ea SLR - Bank sore me ule on nor J ® °e e e s » 3s ° és 3 3 ° s ° »s 2 = > &) OMo — Open Markee Oporilions — Bonks Buy ahs from Covtral Baste tre sor seu her Die by Mapnhons aftr a fica peng ar fix puicn today Urramen Barly oatrowing Pusm CB — Collateralized — vllatonal not HERA 1 Mot Lending pitas “Up omel bonily anil able — Cewwm beni, UUs gov Seeunilhts tp CB witha pronRun Repo- - Rovere © Com a) Bank Duncong 4o OMA Bolu — Wham Comm: dy wo} Wownt ods wonrrvor ; borrows tok — Ban Rate — dndia« Dircownk Rots- US - K \. =) doped o dvdr Rate On Rot Etonory e Me dak - Rot SHwulake present oe se » . . s 3 3 2 s e 2 ied a Fe Gam Values of Mersy < is yp @ Ic | PrtcceVodue 0 Money 15 Anpohion Py olumoune i Worty in, Wonket @ Ruor *q 463e eo e oe se » s . s 3s 3 ® s °s 3 2 ® 2 * z cUnowg Roto 4 p ae 4] vty Aluply | / 4york Ree Fel] Rie Aggrojotr your lnl 7 as VE J i breromge Rate lop riots | app ouciades 4 eo Role ¢ od Ay: pre Lund 2 @ eek pe iets (ruslrr SU cobly howe 04 O oy Product . Gnnot avoid |Ms Monn Sunply . thotity at money! inshint Run = onsuuns Velocity Bus \ Ve Bey 9 Wwoney i Vy ~ e hy — Wi of tw Hay ry po. of Lrounachom — vibrant ale Et ¥ : PwWhane gerods Py = Nowinelk GDP winin a 9i\ wn SAE UWA ,® Qt a dumontlizadio wou unbrdinced , ta j pili Chedit [Wy aw Hat wou couolit DHinis , Ovid = 19 Win wrt Wo Hut neod + buime y, dnnentizareon WA Hilradueed “Usdiny 4p io \ Vaphcts: CULA+ UUsia» ~ No Ce 4 Abponsli set ‘ Pow vovid we wows ont aa tin peeutn7, ? mendy WAU p 24 — MR Oreo. — Bark Cerrowsti:z oAvors tuk te Moret ule curdit tryin. POSH HEEHEEES ° ° ° e_ Berectscrt POLICIES ry duu woh Ma eae ace pwn wy WW) ~ Fiscal polly aww of gnu a ( ; Ha - te puulyy gevewnmenth polualngy cul a. vis et Ded Pay 24. PM charam Singh Gudgt plan V ' { ‘ fs Nufn Sle - va Uo wader tor =A Pe Waning = 7 tie Lae idu Hae 9 wigit pirceeUmno Puoltot Maer pictur as ° f ° A Total Reenar “ecerpts f a e Jou ‘es B Total Brpendttnt teerih Renu Lxpunciguy| 0 9 M [whee ou 4 A-B= Rwwmut Burr Lap - Copia) [ors Total Cyrtat Receipt 6 D Total Cyrtet Exponslitus c- D Capital Bad ped Muay, — (Dalit) Rusu enpenstiltire - Ww Hey dagyaok Loli Capita Caepanrsi arr - pow wo 0 ke paid back. Mousy taken frown Woke Capitol Reetiph : hebt - P -1 Hvenue eopeoustitetia jn in difpctt tk we av mat ohh h pay 3 we borrow ok a eat (debt) Mnol Uso at a, fm au Uppuncditins tb ponte moore — Norok. Aleausre no monly fe Hey Hs Lue | hopusing Now hebt — Ad sawed. SCCCCEHHS eoeueee . , liien = We cannot hove savenue plificita a ll cee trlia in wing CLeficit ae Arince (410s2 Blanced Capital Budpel — PBlonwcl Awoma Budget NEAL Re Ralancect Reon Ruck | publi 2 Contiat Rudge cule 4 v-V dol Conitet Ruulyot depict Revenr Buadget hofit K Copieel Bude hepidt Rewwe Budget haptic Revert Budget CY —— | Parpectly Ok Not Deriatele