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WEIGHT: When applied to location theory, the relative attractive force of one activity to another based on transportation cost. The weight of an activity in this context is comparable to the weight of matter subject to gravitation forces. The weight of an activity is greater if it incurs higher transportation cost. As such, it is attracted, or pulled, to other activities to reduce transportation cost. With the weight (transportation cost) of an activity is often related to physical weight (heavier items cost more to move), it need not be. Other factors affecting weight include special handling (security, comfort) and type of transportation (walking, automobile, airplane).
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Lesson 9: Consumer Demand | Unit 1: Demand Theory
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Page: 2 of 22
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Topic:
Making Decisions
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- A decision: I am pondering a trip to the beach to spend my time wading in the water, playing volleyball, and soaking up the sun.
- But this seemingly simple decision involves a number of considerations:
How much time do I want to spend at the beach? An hour? Four hours? All day?Do I really want to go to the beach? Would I rather visit the amusement park instead? Maybe I could do both?How much will this cost? Do I have sufficient income to pay for admission? Do I have sufficient time?
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UNLIMITED LIABILITY A condition in which owners of a business are personally held responsible for any debts created by the business. Proprietorships and partnerships are the two types of business organizations in which owners have unlimited liability. Unlimited liability tends to restrict the size of a business and prevents large scale production. The alternative to unlimited liability is limited liability, a characteristic of corporations.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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SEAQ
Stock Exchange Automated Quotation System (UK)
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