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August 18, 2022 

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LIMITED LIABILITY COMPANY: A relatively new legal firm type that operates very much like a partnership, but in which every owner has limited liability. The advantage of a limited liability company, over a limited partnership, is that every owner has limited liability. It also has advantages over an S corporation in that very few restrictions exist on who can be an owner.

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PREFERENCES: One of the five demand determinants assumed constant when a demand curve is constructed, and that shift the demand curve when they change. The other four are income, other prices, buyers' expectations, and number of buyers. This determinant comes directly form the WILLINGNESS aspect of demand. Before you can have a demand for a good, you must be willing to have the good, you must have a preference for it. In general, if buyers have a greater preference for a good, then they buy more of the good.

     See also | demand | demand curve | demand determinants | income, demand determinant | other prices | buyers' expectations | number of buyers | demand shock | demand increase | demand decrease | second rule of subjectivity | advertising | information | satisfaction | wants and needs |


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GOVERNMENT EXPENDITURES

Spending by the government sector including both the purchase of final goods and services, or gross domestic product, and transfer payments. Government expenditures are used by the government sector to undertake key functions, such as national defense and education. These expenditures are financed with a combination of taxes and borrowing.

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Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for high interest rates.
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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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