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February 11, 2025 

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HOMOGENEOUS PRODUCT: Goods that are either physically identical or at least viewed as identical by buyers. In particular, the producer of a product can not be identified from the product itself. This is a key assumption underlying the perfect competition market structure, and like other assumptions is only approximated in the real world. Agricultural products, metals, and energy goods come as close as any in the real world.

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APPRECIATION: A more or less permanent increase in value or price. "More or less permanent" doesn't include temporary, short-term jumps in price that are common in many markets. Appreciation is only those price increases that reflect greater consumer satisfaction and thus value. While all sorts of stuff can appreciate in value, some of the more common ones are real estate, works of art, corporate stock, and money. In particular, the appreciation of a nation's money is seen by an increase in the exchange rate caused by a growing, expanding, and healthy economy.

     See also | value | price | market | satisfaction | corporate stock | money | exchange rate | depreciation | revaluation |


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APPRECIATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 11, 2025].


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ASSUMPTION

An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?

Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"I can feel guilty about the past, apprehensive about the future, but only in the present can I act."

-- Abraham Maslow, Psychologist

Q-RATIO
Ratio of Total Market Value of Physical Assets
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