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September 26, 2026 

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REALISM OF PERFECT COMPETITION: Perfect competition is an idealized market structure that does NOT exist in the real world. While some real world industries might come relatively close to a one or two of the four key characteristics of perfect competition, none matches all four sufficiently that we can declare a perfectly competitively industry. Some industries come close on the large number of small firms and the identical product characteristics. A few industries have relatively good, although not perfect, information about prices and technology. However, almost all industries fall far short of the perfect mobility characteristics.

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BANK BALANCE SHEET

A record of the assets, liabilities, and net worth of a bank at a given point in time. Assets are what a bank owns. Liabilities are what a bank owes. Net worth is the difference between the two and what is claimed by or owed to the owners of the bank. By definition, a balance sheet must balance. The assets on one side are equal to the liabilities and net worth on the other.

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APLS

PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?

One of the largest markets for gold in the United States is the manufacturing of class rings.
"My life as a writer consists of 1/8 talent and 7/8 discipline. "

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BOP
Balance of Payments
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