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A: The common notation for the "intercept" term of an equation specified as Y = a + bX. Mathematically, the a-intercept term indicates the value of the Y variable when the value of the X variable is equal to zero. Theoretically, the a-intercept is frequently used to indicate exogenous or independent influences on the Y variable, that is, influences that are independent of the X variable. For example, if Y represents consumption and X represents national income, a measures autonomous consumption expenditures.

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COMPETITIVE MARKET: A market with a large number of buyers and a large number of sellers, such that no single buyer or seller is able to influence the price or any other aspect of the market -- no one has any market control. A competitive market achieves efficiency in the use of our scarce resources if there are no market failures present.

     See also | market | competition | price | quantity | equilibrium | efficiency | market control | regulation | demand price | supply price | satisfaction | opportunity cost | Pareto efficiency |


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COMPETITIVE MARKET, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 1, 2025].


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STATISTICAL DISCREPANCY

The official adjustment factor in the National Income and Product Accounts that ensures equality between the income and expenditures approaches to measuring gross domestic product. This is one of several differences between national income (the resource cost of production) and gross (and net) domestic product (the market value of production). It is also the key difference between gross domestic income and gross domestic product. This statistical discrepancy tends to be relatively small, usually less than 1 percent of gross domestic product.

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for the happiest person in the room.
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In the early 1900s around 300 automobile companies operated in the United States.
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