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PERFECT COMPETITION CHARACTERISTICS: The four key characteristics of perfect competition are: (1) large number of small firms, (2) identical products sold by all firms, (3) freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology. These four characteristics mean that a given perfectly competitive firm is unable to exert any control whatsoever over the market.

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PERSONAL CONSUMPTION EXPENDITURES

The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis that measures household consumption expenditures on gross domestic product. Personal consumption expenditures are far and away the largest and most stable of the four expenditures, averaging about 65 to 70 percent of gross domestic product. The other official expenditures included in the National Income and Product Accounts are gross private domestic investment, government consumption expenditures and gross investment, and net exports of goods and services.

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GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel wanting to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for cardboard boxes.
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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.
"Be willing to have it so. Acceptance of what has happened is the first step to overcoming the consequences of any misfortune."

-- William James, Psychologist

DBD
Declining Balance Depreciation
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