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AAUP: The abbreviation for American Association of University Professors, which is an association of university and college faculty established in 1915 to protect academic freedom. The AAUP is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.

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Lesson 7: Market Equilibrium | Unit 3: A Graph Page: 10 of 22

Topic: The Curves <=PAGE BACK | PAGE NEXT=>

Combining the demand and supply curves into a single graph gives us a market graph.
  • Price is measured on the vertical axis and quantity on the horizontal axis.
  • The negative slope indicates the law of demand.
  • The law of supply is indicated by the positive slope of this curve.
  • We now have a market

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MICROECONOMIC GOALS

Two conditions of the mixed economy that are most important for microeconomics, including efficiency, and equity, that are generally desired by society and pursued by governments through economic policies.

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APLS

BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for broken fingernail clippers.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
"Intense concentration hour after hour can bring out resources in people they didn't know they had. "

-- Edwin Land, inventor, entrepreneur

WTO
World Trade Organization
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