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PHYSICAL ASSET: A productive resource, capital, property, or satisfaction-generating good. Also termed real asset. This should be contrasted with financial assets that are legal claims on physical assets.

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Lesson 10: Utility and Demand | Unit 4: On To Demand Page: 16 of 21

Topic: Marginal Utility Curve <=PAGE BACK | PAGE NEXT=>

  • This graph displays the marginal utility curve that captures the relation between marginal utility and the quantity good consumed.

  • Our mission is to transform this marginal utility curve into a demand curve.

  • All we need to do is change the measure scale on the curve from marginal utility to demand price

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EXPLOITATION

The notion that capital owners and entrepreneurs of the second estate "take advantage" of workers of the third estate by paying them less than their contributions to production.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for slightly overweight pizza delivery guys.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses."

-- Johannes Kepler, German Astronomer

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