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ALLOCATIVE EFFICIENCY: Obtaining the most consumer satisfaction from available resources. Allocative efficiency means that our economy is doing the best job possible of satisfying unlimited wants and needs with limited resources -- that is, of addressing the problem of scarcity.

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POSITIVE ECONOMICS

The branch of economics that seeks to explain the way the economy actually operates. It is the application of the scientific method and the process of testing hypothesis to economic phenomena. A positive economic statement is one that can be refuted by looking at the real world--that is, by testing a hypothesis.

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PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?

Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life."

-- Victor Hugo, Writer

FDIC
Federal Deposit Insurance Corporation
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