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FIXED INVESTMENT: Capital investment expenditures for factories, machinery, tools, and buildings. This is one of two main categories of gross private domestic investment included in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other category is change in business inventories. This is that category is about generally about 95-97% of gross private domestic investment and that includes the capital goods that best reflects what most people consider capital investment. This category includes factories, machinery, tools, and buildings.

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Lesson 2: Economic Science | Unit 2: Theory Page: 8 of 20

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  • That the best scientific theory is one that offers a universal explanation of the real world.
  • How scientific theories are comprised of verified principles and unverified axioms or beliefs that constitute a world view.
  • That the world view of many theories is also intertwined with a political philosophy.
  • The inherent need for abstraction in the development of scientific theories.
  • Three common forms of abstraction--words, graphs, and equations.
  • An introduction of three economic theories--markets, aggregate markets, and Keynesian economics.

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FACTOR MARKET ANALYSIS

An analysis of the structure and equilibrium determination of markets that exchange the services of productive resources. This analysis highlights principles and concepts that tend to be most commonly associated with factor markets (also termed resource markets), including monopsony and bilateral monopoly. Marginal revenue product is a key concept on the demand side of the factor market. Marginal factor cost is a key concept on the supply side of the factor market.

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APLS

ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time at a garage sale looking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for neighborhood pets, especially belligerent parrots.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"Well done is better than well said. "

-- Benjamin Franklin, statesman, inventor

VC
Variable Cost
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