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ENVIRONMENTAL QUALITY: The degree to which the naturally occurring resources of the planet (land, air, and water) are free of artificial impurities or waste products generated by human activity. Pollution is the primary nemesis of environmental quality. As pollution waste residuals are discharged into the environment, environmental quality declines. Like other economic notions, environmental quality is subjective in the sense that it affects the satisfaction of wants and needs.
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MARKET-ORIENTED ECONOMY A mixed economy that relies heavily on markets to answer the three questions of allocation, but with a modest amount of government involvement. While it is commonly termed capitalism, the term market-oriented economy is much more descriptive of the structure of the economy. The United States is the primary example of a market-oriented economy.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for slightly overweight pizza delivery guys.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. " -- Sir Francis Bacon, philosopher
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M1
currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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