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LINE GRAPH: A graph containing one or more lines or curves that are used to represent relations between two (or more) variables. A line graph is a useful method of illustrating scientific principles and hypotheses important for the economic analysis.
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Lesson 7: Market | Unit 5: The Method
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Page: 21 of 22
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Inefficient use of resources can result from:- The fourth rule of competition-with less competition buyers or sellers control the price. The quantity is too little and the demand price is greater than the supply price.
- The seventh rule of complexity-costs or benefits external to the market (externalities) cause differences between the value of goods produced and goods not produced, even though market demand and supply prices are equal.
- The fifth rule of imperfection-markets are not perfect.
- Scarcity implies the lack of competition.
- Complexity implies externalities.
Efficiency is a goal, not a perpetual state of the world.
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MARKET EQUILIBRIUM, NUMERICAL ANALYSIS An analysis of market equilibrium using a table of numbers that combines a demand schedule and a supply schedule. A numerical analysis of the market is used to ascertain information such as market equilibrium, equilibrium price, equilibrium quantity, shortage, and surplus. This is one of two basic methods of analyzing market equilibrium. The other is a graphical analysis using demand and supply curves.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for infected paper cuts.
Your Complete Scope
This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Advice is like snow ‚ the softer it falls, the longer it dwells upon and the deeper it sinks into the mind. " -- Samuel Taylor Coleridge, poet
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PSBR
Public Sector Debt Repayment
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