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COMPETITION AMONG THE FEW: A market with a small number of sellers (or buyers), such that each seller (or buyer) has some degree of market control. Many think of this type of competition when the term competition arises (the other type is competition among the many). This sort of competition leads to intense rivalry where each participant achieves their objective only by beating the others. I call this track-meet competition. In a track race among a handful of competitors, like a 100 meter sprint, the winner is the fastest of THIS GROUP.
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INFLATION A persistent increase in the average price level in the economy. It is measured by the inflation rate, the annual percentage change in a price index such as the Consumer Price Index (CPI) or GDP price deflator. Inflation is the most common phenomenon associated with the price level. Two related phenomena are deflation, a decrease in the price level, and disinflation, a decrease in the inflation rate. Inflation is one of two key macroeconomic problems. The other is unemployment.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
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T-BOND
Treasury Bond
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