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BID-RENT CURVE: A line or curve that shows the relation between the rent economic activities are willing to pay for land (bid-rent) and the distance of the land from the point of attraction (such as the cent of a city). The bid-rent curve has a negative slope because the activities balance the bid-rent with the cost of transportation to the point of attraction. Farther distances require greater transportation cost and thus reduce the amount of rent that can be paid. The bid-rent curve indicates why rents, and by inference land values, tend to be higher near central locations.
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GEOGRAPHIC MOBILITY The mobility, or movement, of factors of production from a productive activity in one location to a productive activity in another location. In particular, geographic mobility is the ease with which resources can change locations. This is one of two types of mobility. The other is occupational mobility.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for jovial bank tellers.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Do not think a man has done his full duty when he has performed the work assigned him. A man will never rise if he does only this. Promotion comes from exceptional work. " -- Andrew Carnegie, industrialist
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MP
Marginal Product
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