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COMMODITY MONEY: A medium of exchange (money) with both value in use and value in exchange. Commodity money is first and foremost a commodity that provides users with satisfaction of their wants and needs. However, it also has the secondary function of a medium of exchange.

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ASSUMPTION

An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.

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Today, you are likely to spend a great deal of time at a flea market wanting to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for gnomes hiding in cypress trees.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"Expect people to be better than they are; it helps them to become better. But don't be disappointed when they're not; it helps them to keep trying."

-- Merry Browne, Author

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