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SEGMENT: A group of potential buyers who have similar needs and wants. This is developed after a process called market segmentation. A concentrated targeting strategy is effective for marketing to each segment. Typically, a company uses one marketing mix to satisfy each segmentÕs needs.

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Lesson 4: Production Possibilities | Unit 4: Analysis Page: 18 of 24

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  • How full employment is represented by any bundle ON the production possibilities curve and unemployment is represented by any bundle INSIDE the production possibilities curve.
  • The production possibilities curve as a frontier or boundary that cannot be cross give current quantities and qualities of resources.
  • How the process of economic growth expands the production possibilities curve to reach previously unreachable bundles of goods.
  • How economic growth is achieved by increasing the quantity or quality of resources.
  • Five important sources of economic growth-the quantity of labor, the quantity of capital, the quantity of materials, education, and technology.


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AGGREGATE DEMAND INCREASE, LONG-RUN AGGREGATE MARKET

A shock to the long-run aggregate market caused by an increase in aggregate demand resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for fairy dust that tastes like salt.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

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