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SLOPE, PRODUCTION POSSIBILITIES CURVE: The numerical value of the slope of the production possibilities curve is the opportunity cost of producing the good measured on the horizontal axis.

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CONSUMPTION EXPENDITURE: The common term for an expenditure by the household sector on gross domestic product. In general consumption expenditures include the wide assortment of goods and services purchased by the household sector that provide satisfaction of wants and needs. Consumption expenditures are divided into three categories -- durable, nondurable, and services.

     See also | consumption | satisfaction | household sector | resources | goods | services | wants | needs | personal consumption expenditures | aggregate expenditures | investment expenditures | government purchases | net exports | circular flow | durable goods, consumption | nondurable goods, consumption | services, consumption |


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CONSUMPTION EXPENDITURE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: August 24, 2019].


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PERSONAL INCOME

The total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. Personal income (PI) is one of three measures of income reported in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are national income (NI) and disposable income (DI). Two related measures of production are gross domestic product (GDP) and net domestic product (NDP). The primary use of personal income is to measure the income actually paid out to the household sector. After adjusting for income taxes, personal income forms the basis for consumption expenditures on gross domestic product.

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Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for slow moving vehicles with darkened windows.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage. "

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