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IN-KIND PAYMENT: A payment, usually in exchange for the productive efforts of resources, that takes the form of goods and services rather than the economy's standard monetary unit (that is, dollars). In other words, resource owners are compensated with a portion of the output that they helped to produce. The standard method of compensation, which is illustrated by the circular flow model, is for a firm to pay resource owners using money revenue received from selling its production. Hence most factor payments are monetary payments. However, in some circumstances firms and resource owners find it more convenient to use actual production for compensation, eliminating the middle sell-production-for-money step
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GOVERNMENT ENTERPRISES: Government owned and operated productive activities that operate much like private sector firms. They hire resources and purchase other inputs, then produce goods that are sold through markets. In some cases, government enterprises compete directly with private firms. One common example of a government enterprise is a city-operated electrical generation and distribution system. In some cities, this service is provided by private, for-profit, businesses and in other cities it is provided by government. Other examples of government enterprises include urban transportation systems, parks and recreational facilities, and communication systems. See also | government sector | firm | market | government subsidies | Recommended Citation:GOVERNMENT ENTERPRISES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 18, 2024]. AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: government enterprises
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PERFECT COMPETITION, LONG-RUN ADJUSTMENT A perfectly competitive industry undertakes a two-part adjustment to equilibrium in the long run. One is the adjustment of each perfectly competitive firm to the appropriate factory size that maximizes long-run profit. The other is the entry of firms into the industry or exit of firms out of the industry, to eliminate economic profit or economic loss. The end result of this long-run adjustment is a multi-faceted equilibrium condition that price is equal to marginal cost and average cost (both short run and long run).
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PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for high interest rates. Your Complete Scope
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires...courage." -- Ralph Waldo Emerson
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AAO Authorized Acquisition Objective
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