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COMMAND AND CONTROL: A term frequently used when referring to government regulation of pollution emissions. This is where the government imposes regulations on polluters through the use of licenses, permits, zoning regulations, registration, and other controls. It should be contrasted with other methods of pollution control, especially Pigouvian tax, pollution rights market, Coase theorem, and recycling.
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Lesson 8: Market Shocks | Unit 3: Single Shifts
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Page: 12 of 20
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- The four basic changes in the market caused by increases or decrease in demand or supply.
- The six steps sequence to analyze any market shock: (1) a determinant changes, (2) a curve to shifts, (3) a shortage or a surplus occurs, (4) the price changes, (5) the quantities demanded and supplied change, and (6) the market imbalance is eliminated and equilibrium is restored.
- That an increase in demand causes an increase quantity and an increase in price.
- That a decrease in demand causes a decrease quantity and a decrease in price.
- That an increase in supply causes an increase quantity and a decrease in price.
- That a decrease in supply causes a decrease quantity and an increase in price.
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INELASTIC SUPPLY The general elasticity relation in which relatively large changes in price cause relatively small changes in quantity supplied. Large changes in price cause relatively small changes in quantity supplied or the percentage change in quantity supplied is smaller than the percentage change in price. This characterization of elasticity is most important for the price elasticity of supply. Inelastic supply is one of two general elasticity relations for supply. The other is elastic supply.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for mail order catalogs with hidden messages.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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DIDMCA
Depository Institutions Deregulation and Monetary Control Act
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