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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.

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INSTITUTION

An established method or way of performing an activity that is widely accepted throughout society. Institutions provide the rules, guidelines, and structure needed to carry out day-to-day economic activities, such as production, consumption, and exchange.

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APLS

BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius trying to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for slow moving vehicles with darkened windows.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
"The only place success comes before work is in the dictionary. "

-- Vince Lombardi

NNP
Net National Product
A PEDestrian's Guide
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