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Volcanic Rock Definition Volcanic rock is an igneous rock of volcanic origin. It differs from other igneous rock by being of volcanic origin. Volcanic rocks…

G8 stands for Group of Eight and is made up of leaders from Canada, France, Germany, Italy, Japan, Russia, the UK and the United States…

Fermentation Definition Fermentation is a chemical reaction in which sugars are broken down into smaller molecules that can be used in living systems. Alcoholic beverages,…

World Trade Organization (WTO) The World Trade Organization (WTO) is the only global international organization dealing with the rules of trade between nations. At its…

Dendritic Spine Definition Dendritic spines are a preferential site of synaptic axodendritic contact; they are sparse or absent in some types of nerve cells (motor…

Proterozoic Definition Proterozoic is the later of the two divisions of the Precambrian Eon, from about 2.5 billion to 540 million years ago. The Proterozoic…

Grouping Symbols include parentheses (), curly brackets {}, or square brackets []. Grouping symbols are used to clarify which operations to do first, especially if…

Russian Revolution: From Tsar to Socialism Russian Revolution of 1917, also called the Soviet Revolution, was a rebellion of the Russian people against the rule…

Perfect Market competition In economic theory, perfect/pure competition describes markets such that no participants are large enough to have the market power to set the…

A monopoly exists when a specific person or enterprise is the only supplier of a particular commodity. The Monopoly is a market structure characterized by a single seller,…

A true duopoly is a specific type of oligopoly where only two producers exist in one market. A duopoly is a situation in which two…

Oligopoly: Oligopoly is a common market form. As a quantitative description of oligopoly, the four-firm concentration ratio is often utilized. Oligopolistic competition can give rise to…