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LIFESTYLES: The opinions, activities, and interests that an individual expresses through his or her pattern of living. People tend to spend their time in certain ways and with certain types of people. These tendencies of interactions with others and utilization of time strongly affect many components of consumer behavior and subsequent decisions to purchase or not. Lifestyle patterns influence product needs, brand preferences, where people shop, and types of media that are effective to reach consumers.

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Lesson 19: Monopolistic Competition | Unit 5: Evaluation Page: 21 of 22

Topic: Regulation <=PAGE BACK | PAGE NEXT=>

  • Government intervention to correct market control inefficiencies typically involves.

    1. One option is the use of antitrust laws to prevent or correct monopolization of a market.
    2. Another option is to regulating prices, usually through a regulatory commission or agency.
    3. A third option is for government to take over the ownership and control of the firm.

  • Given that the gains from intervention are minimal, but the costs are likely to be substantial, the best choice is just to let it be.


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MONEY SUPPLY, AGGREGATE DEMAND DETERMINANT

One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the money supply causes an increase (rightward shift) of the aggregate curve. A decrease in the money supply causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, inflationary expectations, and the federal deficit.

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Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for celebrities who speak directly to you through your television.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead."

-- Charles M. Schwab

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Weak Axiom of Profit Maximization
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