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AD VALOREM TAX: A tax that is specified as a percentage of value. Sales, income, and property taxes are three of the more popular ad valorem taxes devised by government. The total ad valorem tax paid increases with the value of what's being taxed.

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ECONOMY

The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.

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APLS

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for gnomes hiding in cypress trees.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"The only profit center is the customer."

-- Peter Drucker, educator

MSE
Minimum Efficient Scale
A PEDestrian's Guide
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