March 17, 2018 

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CAPTURE THEORY OF REGULATION: Control of a regulatory agency by those entities, usually the businesses of a particular industry, that the agency is designed to regulate. Those industries subject to economic regulation that is intended to protect the public interest (consumers) invariably find it beneficial to exert influence over the regulatory agency. One common way of doing this is to have former or future employees in the industry "temporarily" work for the regulatory agency.

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CAPITAL GOOD: A good that is a manufactured (or previously produced) factor of production that is used to manufacture or produce other things. Common examples of capital goods re the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. The acquisition of capital goods is the primary goal of business investment.

     See also | resources | factors of production | labor | land | entrepreneurship | business | production | natural resources | satisfaction | scarcity | limited resources | factory | investment | consumption good |

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CAPITAL GOOD, AmosWEB GLOSS*arama,, AmosWEB LLC, 2000-2018. [Accessed: March 17, 2018].

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Declining long-run average cost that occurs as a firm increases all inputs and expands its scale of production. Economies of scale result from increasing returns to scale and are graphically illustrated by a negatively-sloped long-run average cost curve. Economies of scale usually occur for relatively small levels of production and are then overwhelmed by diseconomies of scale for relatively large production levels. Together, economies of scale and diseconomies of scale create a U-shaped long-run average cost curve.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either a weathervane with a horse on top or a case of blank recordable DVDs. Be on the lookout for celebrities who speak directly to you through your television.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"If football taught me anything about business, it is that you win the game one play at a time."

-- Fran Tarkenton, Football Player

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