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AD-AS ANALYSIS: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).

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QUANTITY: In a market, the amount of a good that is bought, sold, or traded among buyers and sellers. In a standard market diagram, quantity is displayed on the horizontal axis.

     See also | market | good | horizontal axis | demand | supply | quantity demanded | quantity supplied | demand price | supply price | equilibrium quantity | equilibrium price | shortage | surplus | market adjustment |


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QUANTITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: October 31, 2020].


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SECOND RULE OF SUBJECTIVITY

The second of seven basic rules of the economy, stating that market prices are determined by subjective values and the preferences of buyers and resource owners. Contrary to popular opinion, prices and costs are not immutably facts of nature, but are ultimately based on what people are willing to pay or accept.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for the happiest person in the room.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
"In the long run men hit only what they aim at. "

-- Henry David Thoreau, philosopher

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Generalized Axioms of Revealed Preference
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