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LEGAL FORCES: Forces in the marketing environment that are shaped by government laws affecting business. These are very similar to political forces. Once laws are enacted they are usually very difficult to change. Many companies work hard at lobbying legislatures, Congress, and other elected to pass laws favorable to the company's best interests.
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Lesson 17: Money | Unit 4: Money's History
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Page: 22 of 25
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- Barter lets resources specialize in production and that with barter trades, people can access a wider variety of goods than they could produce on their own.
- That commodity money has value in use and value in trade and that the value in use dictates value in trade.
- That metals are a natural for use as a commodity money and that their most important characteristic is durability.
- That fiat money has little or no value in use compared to value in exchange.
- That electronic money fits two of the four characteristics of money: it is easy to transport and completely divisible, but it raises questions about being counterfeitable and durable.
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PERFECT COMPETITION, CHARACTERISTICS The four key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) perfect resource mobility or the freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for small children selling products door-to-door.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
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AFA
Advertising Federation of America
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