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GROWTH RATE OF PRODUCTION: The percentage change in (usually real) gross domestic product from one year to the next. This is used to indicate the degree of progress or economic growth of an economy.

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INFORMATION

The transfer of knowledge from one person to another. Information is a flow concept. It requires someone (or something) to do the sending and someone to do the receiving. Information is a valuable commodity that provides benefits, but also incurs an opportunity cost to produce, meaning information is never perfect or complete. The existence of asymmetric information (some have more information than others) gives rise to the problems of adverse selection, moral hazard, and the principal-agent problem.

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Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a green and yellow striped sweater vest or a Boston Red Sox baseball cap. Be on the lookout for rusty deck screws.
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In the early 1900s around 300 automobile companies operated in the United States.
"The greatest glory in living lies not in never falling, but in rising every time we fall. "

-- Nelson Mandela, statesman

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