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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.
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Lesson 19: Money Creation | Unit 2: Fred Returns
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Page: 5 of 23
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Let's do a review of our story of Fred the Goldsmith.- Fred the Goldsmith, has developed several modern banking functions.
- Gold, his raw material, is also the economy's medium of exchange, so he has found the SAFEKEEPING function.
- Requests to store extra gold owned by Bill the Knight and others is the DEPOSITORY function of modern banks.
- Requests to borrow gold by Elizabeth the Innkeeper, has led to the LENDING function of modern banks.
- The need to keep some of the gold deposited, but not all of it, has led to the modern banking function of backing deposits with reserves, FRACTIONAL-RESERVE banking.
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MARGINAL REVENUE, MONOPOLISTIC COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopolistically competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopolistically competitive firm equates marginal revenue and marginal cost.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for infected paper cuts.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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ATO
At The Opening
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