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February 15, 2025 

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ADVERTISING: Information provided about a product by a company to promote or maintain sales, revenue, and or profit. Advertising is often an explicit method of signalling that sellers use to provide information to buyers. The primary objective of advertising from the sellers perspective is to increase (or at least maintain) demand for a product. To accomplish this objective advertising provides buyers with two important types of information -- prices and product quality.

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ECONOMIC GROWTH: The long-run expansion of the economy's ability to produce output. This is one of five economic goals, specifically one of the three macro goals (stability and full employment are the other two). Economic growth is made possible by increasing the quantity or quality of the economy's resources (labor, capital, land, and entrepreneurship).

     See also | macro goals | stability | full employment | production | resources | labor | capital | land | entrepreneurship | investment | education | technology | real gross domestic product | production possibilities | aggregate market | long run | economic development |


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ECONOMIC GROWTH, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 15, 2025].


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DECREASING MARGINAL RETURNS

In the short-run production of a firm, an increase in the variable input results in a decrease in the marginal product of the variable input. Decreasing marginal returns typically surface after the first few quantities of a variable input are added to a fixed input. This is one of two types of marginal returns. The other is increasing marginal returns. A related phenomenon is diseconomies of scale associated with long-run production.

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Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"An idea is never given to you without you being given the power to make it reality."

-- Richard Bach, Author

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