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March 25, 2026 

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ECONOMIC: Relating to economics or the study of the economy. This word is commonly added to other terms to emphasize its importance to economics. A few examples are economic cost, economic profit, economic goal, economic policies, and economic thinking.

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MODEL

An abstract representation of the real world that is usually based on scientific theories, principles, and hypotheses. A model is used to analyze economic phenomena by focusing on a small number of essential aspects of the real world. It is then manipulated to derive conclusions and implications that can be applied to the real world.

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APLS

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Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either a wall poster commemorating the first day of spring or a lazy Susan for you dining room table. Be on the lookout for gnomes hiding in cypress trees.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"Success is the ability to go from one failure to another with no loss of enthusiasm."

-- Sir Winston Churchill

WAPM
Weak Axiom of Profit Maximization
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