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FCC: The abbreviation for the Federal Communications Commission, which was established by the Communications Act of 1934 and is charged with regulating interstate and international communications by radio, television, wire, satellite and cable. The FCC consists of five Commissioners appointed by the President and confirmed by the Senate. Each commissioner serves a 5-year term, except when filling an unexpired term. One of the regulatory forces in the marketing environment.

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ALLOCATIVE EFFICIENCY

Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or economic efficiency.

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Today, you are likely to spend a great deal of time at an auction hoping to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for pencil sharpeners with an attitude.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
"Be civil to all; sociable to many; familiar with few; friend to one; enemy to none. "

-- Benjamin Franklin, statesman

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