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FORECLOSURE: A legal move to acquire possession of mortgaged property when the borrower is unable to pay off the loan or make payments according to the conditions of the loan. In other words, if you can't make your house payments, the bank (or lender) can boot you out and take your house. The house can then be sold to pay off all or part of the loan. One of the more notable things about foreclosure for members of the third estate is that the rules and procedures differ from state to state. If you anticipate foreclosure activity, it might be worth your while to find out the specifics in your locale.

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AUTONOMOUS CONSUMPTION: Household consumption expenditures that are unrelated to income or production (especially disposable, national income, or gross national product). These are consumption expenditures that would occur even if household disposable income was zero. Autonomous consumption is graphically depicted as the vertical intercept of the consumption or propensity-to-consume line. Autonomous saving is the equal to the negative value of autonomous consumption. Changes in autonomous consumption, along with changes in other autonomous expenditures, are what trigger the multiplier effect.

     See also | consumption expenditures | disposable income | gross domestic product | consumption line | autonomous saving | autonomous expenditure | multiplier | induced consumption |


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AUTONOMOUS CONSUMPTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 1, 2025].


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PERFECT COMPETITION, SHORT-RUN PRODUCTION ANALYSIS

A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. This production level can be identified using total revenue and cost, marginal revenue and cost, or profit. Because a perfectly competitive firm faces a perfectly elastic demand curve, it efficiently allocates resources by equating price and marginal cost. In addition, the marginal cost curve above the average variable cost curve is the perfectly competitive firm's short-run supply curve.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for mail order catalogs with hidden messages.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"Experience keeps a dear school, but fools will learn in no other. "

-- Benjamin Franklin

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