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RESOURCE MARKETS: Market used to exchange the services of resources labor, capital, and natural resources. The value of services exchanged through resource markets each year is measured as national income. Compare financial market, product market.
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VOLUNTARY EXCHANGE The process of willingly trading one valuable commodity (good, service, or resource) for another. The key term is "willingly," which distinguishes voluntary exchanges from involuntary exchanges, such as those created by government taxes. Voluntary exchanges are the foundation of market transactions.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Follow effective action with quiet reflection. From the quiet reflection will come even more effective action. " -- Peter F. Drucker, author
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BAE
Bureau of Agricultural Economics
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