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Today's Index
Yesterday's Index
230.8
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GROWTH STAGE: The second stage in the product life cycle, characterized by increasing sales, high profits, and market entry by competitors. During this stage a successful product experiences steadily increasing customer acceptance and brand recognition. Advertising and promotion efforts are focused on product differentiation from that of the competition. This is also the stage when companies might withdraw from the market due to lack of acceptance, product failure, or lack of profits.
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ENTREPRENEURSHIP: One of the four basic categories of resources, or factors of production (the other three are labor, capital, and land). Entrepreneurship is a special sort of human effort that takes on the risk of bringing labor, capital, and land together and organizing production. See also | factors of production | resources | labor | capital | land | risk | production | Smith, Adam | invisible hand | efficiency | profit | incentive | economic growth | living standard | economic profit | normal profit |
Recommended Citation:ENTREPRENEURSHIP, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2014. [Accessed: April 17, 2014].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: entrepreneurship
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LONG-RUN AVERAGE COST The per unit cost of producing a good or service in the long run when all inputs under the control of the firm are variable. In other words, long-run total cost divided by the quantity of output produced. Long-run average cost is guided by returns to scale.
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State of the ECONOMY
Median weekly earnings
Fourth Quarter 2013
$786
1.4% higher for the year
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials seeking to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing." -- William A. Ward
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AMB
Adjusted Monetary Base
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