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May 28, 2016 

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FACTOR MARKET: A market used to exchange the services of a factor of production: labor, capital, land , and entrepreneurship. Factor markets, also termed resource markets, exchange the services of factors, NOT the factors themselves. For example, the labor services of workers are exchanged through factor markets NOT the actual workers. Buying and selling the actual workers is not only slavery (which is illegal) it's also the type of exchange that would take place through product markets, not factor markets. More realistically, capital and land are two resources than can be and are legally exchanged through product markets. The services of these resources, however, are exchanged through factor markets. The value of the services exchanged through factor markets each year is measured as national income.

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TRANSPORTATION: The movement of a good, resource, or commodity from one location to another. This is one of two primary types of production activity, the other being the physical transformation of a good. Transportation invariably involves significant amounts of capital goods, which makes it an industry prone toward either oligopoly or monopoly. In fact, many major oligopoly and monopoly industries are heavily involved with transportation. Public utility monopolies top the list (electricity and natural gas distribution). Oligopoly examples include airlines, railroads, long distance telephone, and television broadcasting.

     See also | production | capital | oligopoly | monopoly | market structure | public utility |


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TRANSPORTATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2016. [Accessed: May 28, 2016].


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PRIVATIZATION

The process of converting or "selling off" government-owned assets, properties, or production activities to private ownership. Privatization is usually undertaken either to generate revenue for the government or as part of an overall laissez faire approach to the economy.

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APLS

State of the ECONOMY

U.S. Job Openings
October 2015
5.4 million Unchanged
Bureau of Labor Statistics

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Today, you are likely to spend a great deal of time wandering around the shopping mall looking to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for small children selling products door-to-door.
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Lombard Street is London's equivalent of New York's Wall Street.
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European Monetary Union
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