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March 23, 2023 

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INDIFFERENCE CURVE: A curve that graphically depicts various combinations of goods that generate the same level of utility to a consumer. In other words, a consumer is "indifferent" among any of the bundles because they all provide the same satisfaction. Indifference curves are combined with a budget line or constraint for indifference curve analysis used to explain many aspects of demand, including the slope of the demand curve and the income and substitution effects.

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BOYCOTT: An organized effort to reduce the sales of a particular good that's intended to punished the producer or seller. Boycotts are promoted by labor unions to inflict harm on their companies and (hopefully) encourage their employers to settle labor distributes. Special interest groups also use boycotts to achieve assorted political goals. Some groups, for example, have called for boycotts of the products advertised on "undesirable" television shows, while others have boycotted companies that do business in politically "undesirable" countries.

     See also | union | collective bargaining | strike | special interest group |


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AGGREGATE SUPPLY INCREASE, SHORT-RUN AGGREGATE MARKET

A shock to the short-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the short-run aggregate supply curve. An increase in aggregate supply in the short-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.

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Today, you are likely to spend a great deal of time at a flea market wanting to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for a thesaurus filled with typos.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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