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ASEAN: The Association of Southeast Asian Nations (ASEAN) is a subregional organization established in 1967 in Bangkok by the five original Member Countries: Indonesia, Malaysia, Philippines, Singapore, and Thailand. Brunei Darussalam joined in 1984, Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999. The aims and purposes of the Association are to accelerate the economic growth, social progress and cultural development in the region and to promote regional peace and stability through abiding respect for justice and the rule of law.
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Lesson Contents
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Unit 1: The Concept |
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Unit 2: A Little More |
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Unit 3: Measurement |
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Unit 4: A Continuum |
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Unit 5: Market Elasticity | |
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Elasticity Basics
In this lesson, we will examine the basics of elasticity, including what it is, how it is measured, and how it is used in market analysis. - The first unit of this lesson, The Concept, introduces the elasticity concept and previews its role in market analysis.
- In the second unit, A Little More, examines the importance of elasticity for such topics as market shocks, taxes, and price controls.
- The third unit, Measurement, takes a close look at how elasticity is measured, focusing on the coefficient of elasticity.
- The fourth unit, A Continuum, examines the five categories of elasticity, ranging from elastic to inelastic, that form a continuum.
- The fifth unit and final unit, Market Elasticity, closes this lesson by introducing four key elasticity concepts for the market demand and supply.
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SLOPE, SAVING LINE The positive slope of the saving line is also termed the marginal propensity to save (MPS). This slope is greater than zero but less than one, reflecting induced saving and the Keynesian psychological law of consumer behavior that saving increases by less than the increase in income. The slope of the saving line provides the foundation for the slope of the leakages line used in the injections-leakages model. It thus also affects the magnitude of the multiplier process.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for door-to-door salesmen.
Your Complete Scope
This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Progress begins with the belief that what is necessary is possible. " -- Norman Cousins, editor, writer
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BIF
Bank Insurance Fund
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