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FINANCIAL ASSET: A legal claim to or ownership of a physical asset. Common financial assets are stocks, bonds, money, and government securities. These are also termed paper assets.
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CENTRAL PLANNING A system of extensive central government control of an economy, including organizing production and making allocation decisions. This was the popular method of allocating resources and answering the three basic questions of allocation under communism and socialism economic systems of the Soviet Union, China, and others during the 1950s, 1960s, and 1970s.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a 200-foot blue garden hose or a video camera with stop action features. Be on the lookout for infected paper cuts.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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WE
Walrasian Equilibrium
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