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DERIVED DEMAND: The notion that the demand for a factor or production, an input used in the production of a good, depends on the demand for the output being produced. This concept highlights the two key aspects of factor demand. One is that factor demand depends on the value of the good being produced. Inputs that produce more valuable outputs are themselves more highly valued. Two is that factor demand depends on the productivity of the input. Inputs that produce more output are themselves more highly valued.
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ALLOCATION The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"Few things can help an individual more than to place responsibility on him, and to let him know that you trust him. " -- Booker T. Washington, educator
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AACCLA
Association of American Chambers of Commerce in Latin America
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