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PHENOMENON: An event or action that is subject to investigation using the scientific method. Phenomena are the sorts of things that science seeks to explain. While the term phenomenon might entice thoughts of UFOs, ghosts, and three-headed turtles, it really just means things that happen, both usual and unusual. The reason for explaining the unusual AND the commonplace is that the scientific method seeks to develop universal theories, with laws and principles that explain all events, not just unexpected ones.
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ELASTIC DEMAND The general demand relation in which relatively small changes in price cause relatively large changes in quantity demanded. Small changes in price cause relatively large changes in quantity demanded or the percentage change in quantity demanded is larger than the percentage change in price. This characterization of elasticity is most important for the price elasticity of demand. Elastic demand is one of two general elasticity relations for demand. The other is inelastic demand.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. " -- Henry Chester, Writer
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ILS
Indirect Least Squares, International Labor Standards
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