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QUANTITY: In a market, the amount of a good that is bought, sold, or traded among buyers and sellers. In a standard market diagram, quantity is displayed on the horizontal axis.

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VALUE ADDED

The increase in the value of a good at each stage of the production process. The "value" part of this phrase means the ability of a good to satisfy wants and needs either directly as a consumption good or indirectly as a capital good. The "added" part means that resources have transformed the good in the course of production, to make it more valuable. A good that provides greater satisfaction has greater value.

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Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for jovial bank tellers.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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