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July 10, 2025 

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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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ARBITRAGE: Buying something in one market then immediately (or as soon as possible) selling it in another market for (hopefully) a higher price. Arbitrage is a common practice in financial markets. For example, an aspiring financial tycoon might buy a million dollars worth of Japanese yen in the Tokyo foreign exchange market then resell it immediately in the New York foreign exchange market for more than a million dollars. Arbitrage of this sort does two things. First, it often makes arbitragers wealthy. Second, it reduces or eliminates price differences that exist between two markets for the same good.

     See also | market | price | hedging | speculation | foreign exchange | wealth | financial markets |


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ARBITRAGE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 10, 2025].


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SCARCITY

A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for crowded shopping malls.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. "

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Ratio of Total Market Value of Physical Assets
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