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VERTICAL EQUITY: A system of taxes that treats unequal people unequally. In other words, if you make the less income than someone else and pay fewer personal income taxes, then we have vertical equity.

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SCARCE

A condition in which a given good or resource is limited relative to its desired uses. This is a special condition of the general condition of scarcity. A scarce good or resource is typically exchanged through markets and carries a positive price.

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BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time at a flea market trying to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for telephone calls from former employers.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
"Life is no brief candle to me. It is a sort of splendid torch which I have got a hold of for the moment, and I want to make it burn as brightly as possible before handing it on to future generations."

-- George Bernard Shaw

LRMC
Long Run Marginal Cost
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