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MATERIALS: The stuff used in the production of tangible products that become the tangible products. Materials, also termed raw materials, are part of the land category of scarce resources. Space is also part of the land resource category. Another term that works as a synonym for materials is natural resources. Perhaps it's obvious that without materials, there would be no tangible products.

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INDUCED EXPENDITURES

Expenditures on aggregate production by the four macroeconomic sectors that depend on income or production (especially national income or even gross domestic product). That is, changes in income generate changes in these expenditures. Each of the four aggregate expenditures--consumption, investment expenditures, government purchases, and net exports--have an induced component. Induced expenditures are measured by the slope of the aggregate expenditures line. The alternative to induced expenditures are autonomous expenditures, expenditures which do not depend on income.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for poorly written technical manuals.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. "

-- Napoleon Hill, author

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