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SBA: The abbreviation for Small Business Administration, which is an independent federal agency that was started in 1953 to help small business. It provides a variety of assistance, including financial, technical, and managerial help. It helps other agencies in the federal government direct contracts and spending in the direction of proprietorships and small corporations. It also provides low interest loans to small businesses that suffer from natural disasters.
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Lesson Contents
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Unit 1: Background |
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Unit 2: Resources |
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Unit 3: Factor Supply |
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Unit 4: Determinants |
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Unit 5: Taking Stock | |
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Factor Supply
- The first unit of this lesson, Background, begins by laying the foundation for factor markets and factor supply.
- In the second unit, Resources, we examine specific supply considerations for the alternative factors of production.
- The third unit, Cost And Supply, then takes a look at the three key factor cost concepts -- total, average, and marginal.
- In the fourth unit, Determinants, we examine the key determinants that shift the factor supply curve, especially mobility.
- The fifth and final unit, Taking Stock, then closes this lesson with a review of factor supply and a preview of factor market analysis to come.
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IMPLICIT COLLUSION Seemingly independent, but parallel, actions among competing firms (mostly oligopolistic firms) in an industry designed to control the market, raise the price, and otherwise act like a monopoly. Also termed tacit collusion, the distinguishing feature of implicit collusion is the lack of any explicit agreement. This is one of two types of collusion. The other is explicit or overt collusion, which involves an explicit agreement.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a handcrafted spice rack or a cell phone case. Be on the lookout for mail order catalogs with hidden messages.
Your Complete Scope
This isn't me! What am I?
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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TFC
Total Fix Cost
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