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September 24, 2022 

AmosWEB means Economics with a Touch of Whimsy!

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ACCOUNTING PROFIT: The difference between a business's revenue and it's accounting expenses. This is the profit that's listed on a company's balance sheet, appears periodically in the financial sector of the newspaper, and is reported to the Internal Revenue Service for tax purposes. It frequently has little relationship to a company's economic profit because of the difference between accounting expense and the opportunity cost of production. Some accounting expense is not an opportunity cost and some opportunity cost is does not show up as an accounting expenses.

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PINK FADFLY
Your compete MICRO*scope for today

You are the type of person who is at the forefront of every fashion trend, it is your way of life. Family and friends never fail to notice when you enter a room. Today, you are likely to spend a great deal of time at an auction wanting to buy either any book written by Stephan King or a T-shirt commemorating next Thursday. Be on the lookout for door-to-door salesmen. You should consider shopping at stores or businesses beginning with the letter L, but do not buy any products with a serial number or product code containing the number 642182. Your preferred shopping venue is high-end specialty stores. Your special symbol is the forward slash (/).


Is this You?

As a Pink Fadfly, you flutter from store to store, from product to product, looking for the latest fashions. You are the trend-setter and at the forefront of all fads. If it's new, if it's trendy, if it's on the cutting edge, you are there. Price is not important. Quality is not a prime consideration. For you it's not a matter of form over function or style over substance. The latest trend trumps all.


This isn't me! What am I?
FOUR-FIRM CONCENTRATION RATIO

The proportion of total output in an industry produced by the four largest firms in an industry. This is one of two common concentration ratios. The other is the eight-firm concentration ratio. Another related measure is the Herfindahl index. The four-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control held by the four largest firms in the industry.

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Getting Your Share Of FARM SUBSIDIES

Our pedestrian excursion through the economy has helped me work up a ferocious appetite. I vote for a quick stop at the Mr. Market Super Food Discount Store where we can purchase a loaf of bread, assorted meats, and some cheese -- all for a luncheon tribute to the Earl of Sandwich. While a self-made tribute to the Earl is less expensive than any purchased from Manny Mustard's House of Sandwich, the ingredients from Mr. Market Super Food Discount Store still carry a hefty price tag. If you're hungry and have limited cash on hand, you might wonder whether food prices are higher than they need to be.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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