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PACKAGING: The container and graphic design variable in the marketing mix, (sometimes included in the product). Changes in product distribution and government regulations in contents identification have made the packaging variable a very important component in the organizationŐs marketing strategy. Packaging completes the marketing process by giving the consumer vital information just prior to making the final buy decision.
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AGGREGATE OUTPUT: The macroeconomy's total production of final goods and services. You might recognized it by it's official term gross domestic product. Another related term is aggregate supply. This is the total production in the economy that is purchased by the four basic economic sectors -- household, business, government, and foreign. See also aggregate market, aggregate demand, aggregate expenditures. See also | gross domestic product | production | final goods | real production | aggregate supply | aggregate demand | aggregate market | aggregate expenditures | consumption expenditures | investment expenditures | government purchases | net exports | household sector | business sector | government sector | foreign sector | price level | macroeconomics |
Recommended Citation:AGGREGATE OUTPUT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: October 11, 2024].
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LONG-RUN TOTAL COST The opportunity cost incurred by all of the factors of production used in the long run (when all inputs are variable) by a firm to produce a good or service, including wages paid to labor, rent paid for the land, interest paid to capital owners, and a normal profit earned by entrepreneurs. Unlike short-run total cost, long-run total cost cannot be separated into fixed cost and variable cost. In the long run, all inputs are variable, so all cost is variable.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for mail order catalogs with hidden messages.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. " -- Bernard Shaw, journalist
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GARP
Generalized Axioms of Revealed Preference
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