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BALANCED BUDGET: An equality between the revenues and expenditures that constitute a budget. The notion of a budget is most important for governments, where revenues are taxes and expenditures are assorted public goods, administrative expenses, etc. While the federal government has been notorious for its failure to maintain a balanced budget, except for periods of unexpected prosperity, many state and local governments are very good at this sort of thing.
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SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store looking to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"There is at least one point in the history of any company when you have to change dramatically to rise to the next level of performance. Miss that moment, and you start to decline. " -- Andy Grove, Intel Corp. chairman
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ATM
Automated Teller Machine
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