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LEVERAGE: The use of credit or loans to enhance speculation in the financial markets. Suppose, for example, that you take the $1,000 in your bank account to your stock broker and purchase $1,000 worth of stocks, bonds, or whatever. A leveraged purchase would let you use your $1,000 to buy, let's say, $10,000 worth of stocks or bonds. The remaining $9,000 of the purchase price comes from a loan.

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Lesson 16: Perfect Competition | Unit 2: Short-Run Output Page: 9 of 28

Topic: Comparing Totals <=PAGE BACK | PAGE NEXT=>

  • This table presents the necessary total revenue and total cost values.

    • Quantity (Q): The first column, once again, presents the quantity of output produced.

    • Total Revenue (TR): The second column presents total revenue.

    • Total Cost (TC): The third column presents the total cost incurred by the firm in the production of this output.

  • Profit is calculated as the difference between total revenue and total cost.


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SECOND ESTATE

Another term for the business sector. This is one of four divisions of society based on economic function. The other three are government as the first estate, consumers as the third estate, and journalists as the fourth estate.

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BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for mail order catalogs with hidden messages.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. "

-- Andrew Carnegie, entrepreneur

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