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March 4, 2024 

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COEFFICIENT OF ELASTICITY: A numerical measure of the relative response of one variable (A) to changes in another variable (B). The most common applications for the coefficient of elasticity are price elasticity of demand and price elasticity of supply. Two other notable applications are income elasticity of demand and cross elasticity of demand.

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CURRENT ACCOUNT: One of two parts of a nation's balance of payments (the other is capital account). It is a record of all trade, exports and imports, between a nation and the rest of the world. The current account is separated into merchandise, services, and what's called unilateral transfers. The merchandise part is nothing other than the well-known balance of trade. There's also a lesser known balance of services -- the difference between services imported and exported.

     See also | balance of trade | capital account | money | export | import | balance of services | balance of payments | asset | foreign | domestic | foreign aid | capital account surplus | capital account deficit |


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CURRENT ACCOUNT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 4, 2024].


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PERFECT COMPETITION, REALISM

Perfect competition is an idealized market structure that does NOT exist in the real world. While some real world industries might come relatively close to one or two of the four key characteristics of perfect competition, none matches all four sufficiently that they can be declared PERFECTLY competitively. Some industries come close on the large number of small firms and the identical product characteristics. A few industries have relatively good, although not perfect, information about prices and technology. However, almost all industries fall far short of the perfect mobility characteristics.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for high interest rates.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses."

-- Johannes Kepler, German Astronomer

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