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AFRICAN DEVELOPMENT BANK: A regional multilateral development institution engaged in promoting the economic development and social progress of its member countries in Africa. The Bank, established in 1964, started functioning in 1966 with its Headquarters in Abidjan, Cote d' lvoire. The Bank borrows funds from the international money and capital markets. Its shareholders are the 53 countries in Africa as well as 24 countries in the Americas, Europe, and Asia.
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MODEL: An abstract representation of the real world that is usually based on scientific theories, principles, and hypotheses. The feature of a model that bears emphasizing is that it is an abstract representation of real world phenomenon. For economic models, this abstraction usually takes the form of words, graphs, or equations. See also | abstraction | abstraction methods | economic analysis | theory | scientific method | phenomenon | market | demand curve | supply curve | price | quantity |
Recommended Citation:MODEL, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: December 13, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: model
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PERFECT COMPETITION, REVENUE DIVISION The marginal approach to analyzing a perfectly competitive firm's short-run profit maximizing production decision can be used to identify the division of total revenue among variable cost, fixed cost, and economic profit. The U-shaped cost curves used in this analysis provide all of the information needed on the cost side of the firm's decision. The demand curve facing the firm (which is also the firm's average revenue and marginal revenue curves) provides all of the information needed on the revenue side.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for telephone calls from long-lost relatives.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"In order to create there must be a dynamic force, and what force is more potent than love." -- Igor Stravinsky, violinist
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DIDMCA
Depository Institutions Deregulation and Monetary Control Act
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