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BRAND PREFERENCE: The amount of brand loyalty a customer has toward a specific product or service. Some customers are fanatical about a certain brand and will not switch or even consider another substitute. That being said, brand loyalty is sometimes very sensitive to price fluctuations. In the soft drink industry, many consumers will switch back and forth between Pepsi and Coke, depending on which is on sale. These consumers might prefer one product to the other, but are not absolutely loyal or brand insistent.

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Lesson 9: Macro Basics | Unit 4: Policies Page: 13 of 16

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  • Government stabilization policies that seek to bring the economy closer to the macro goals of full employment, stability and growth.
  • The two basic viewpoints regarding the role of the government: (a) Liberal Democrat: Government is the only way to keep the economy running smoothly and (b) Conservative Republican: Government is the problem, not the solution.


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FACTOR PAYMENTS

Payments made to scarce resources, or the factors of production (labor, capital, land, and entrepreneurship), in return for productive services. Factor payments are frequently categorized according to the services of the productive resource being rewarded. Wages are paid for the services of labor; interest is the payment for the services of capital, rent is the services for land, and profit is the factor payment to entrepreneurship.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for fairy dust that tastes like salt.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus."

-- Alexander Graham Bell, inventor

IGARCH
Integrated Generalized Autoregressive Conditional Heteroskedasticity
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