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CIRCULAR FLOW: The continuous movement of production, income, and resources between producers and consumers. This flow moves through product markets as the gross domestic product of our economy and is then the revenue received by the business sector in payment for this production. This stream of revenue then flows through resource markets as payments by businesses for the resources employed in production. The payments received by resource owners, however, is nothing more than the income of the household sector. The resource owners of the household sector use this income to purchase goods and services through the product markets, coming full circle to where we began.

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SUPPLY CURVE

A graphical representation of the relation between the supply price and quantity supplied, holding all ceteris paribus supply determinants constant. A supply curve graphically illustrates the law of supply, the direct relation between supply price and quantity supplied for a particular good. It is one half of the standard market model. A demand curve is the other half.

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Today, you are likely to spend a great deal of time at an auction looking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for crowded shopping malls.
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Three-forths of the gold mined each year is used to manufacture jewelry.
"Before you can inspire with emotion, you must be swamped with it yourself. Before you can move their tears, your own must flow. To convince them, you must yourself believe."

-- Sir Winston Churchill

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Central American Common Market
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