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DEMAND CURVE: A graphical representation of the relationship between the demand price and quantity demanded (that is, the law of demand), holding all ceteris paribus demand determinants constant.

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MARKET EFFICIENCY

The notion that a competitive market automatically achieves an efficient allocation of resources by equating demand price with supply price and quantity demanded with quantity supplied. Market efficiency relies on the self-correction process that eliminates shortages or surpluses. It also presumes that the market is competitive and is not subject to market failures.

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BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time watching infomercials looking to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for cardboard boxes.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
"I learned about the strength you can get from a close family life. I learned to keep going, even in bad times. I learned not to despair, even when my world was falling apart. I learned that there are no free lunches. And I learned the value of hard work. "

-- Lee Iacocca

PDV
Present Discounted Value
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