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LIFESTYLES: The opinions, activities, and interests that an individual expresses through his or her pattern of living. People tend to spend their time in certain ways and with certain types of people. These tendencies of interactions with others and utilization of time strongly affect many components of consumer behavior and subsequent decisions to purchase or not. Lifestyle patterns influence product needs, brand preferences, where people shop, and types of media that are effective to reach consumers.
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VERY LONG RUN, MICROECONOMICS: A production time period in which all inputs are variable, including those under control of the firm and those beyond the control of the firm. During the very long run, not only are the labor, capital, land, and entrepreneurship inputs variable, but so too are key production inputs such as government rules, technology, and social customs. This is one of four production time periods used in the study of microeconomics. The other three are short run, long run, and very short run. See also | production time periods | short run, microeconomics | long run, microeconomics | very short run, microeconomics | production inputs | fixed input | variable input | production | production cost | variables | labor | capital | law of supply | economic analysis | marginal analysis | factors of production | microeconomics | market | price | quantity supplied | short-run production | long-run production analysis | production function | product | total product | marginal product | average product | law of diminishing marginal returns | marginal returns | production stages | division of labor | production possibilities | economic growth |
Recommended Citation:VERY LONG RUN, MICROECONOMICS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 21, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: very long run, microeconomics
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for telephone calls from long-lost relatives.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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FXA
Foreign Exchange Agreement
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