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PIE CHART: A circular graph divided into wedges that is commonly used to present the division of a total among parts. The circular "pie" represents the total value and each slice represents the portion distributed to each category. Pie charts are a handy way to present information, but are not well suited for more involved economic analysis.

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OPPORTUNITY COST

The highest valued alternative foregone in the pursuit of an activity. Opportunity cost is a one of the most fundamental concepts used in the study of economics. An opportunity cost can be either explicit, usually involving a monetary payment, or implicit, which does not involve a transaction. Opportunity cost is also commonly termed economic cost.

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Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for slightly overweight pizza delivery guys.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
"My philosophy of life is that if we make up our mind what we are going to make of our lives, then work hard toward that goal, we never lose - somehow we win out."

-- President Ronald Reagan

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