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MASS PRODUCTION: The production of large quantities of virtually identical goods using large scale operations. Such production typically makes use of large factories that benefit from economies of scale. The "mass" aspect of mass production indicates: (1) that large quantities, or masses, of goods are produced and (2) that these goods are being purchased or consumed by the majority of the population, or large masses of people. Mass production is largely a consequence of the industrial revolution, which moved society from a rural-based population engaged in agrarian production to an urban-based population engaged in factory production.

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RISK LOVING

A preference for risk in which a person prefers risky income over guaranteed or certain income. Risk loving arises due to increasing marginal utility of income. A risk loving person prefers to undertake risk and is even willing to pay to do so. This is one of three risk preferences. The other two are risk neutrality and risk aversion.

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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at an auction wanting to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for rusty deck screws.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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-- Alexander Graham Bell, inventor

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