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QUANTITY DEMANDED: The specific (maximum) quantity of a good or service that buyers are willing and able to buy at a specific demand price. The emphasis here is on specific. Quantity demanded and demand price form a specific pair of numbers.

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INSTITUTION

An established method or way of performing an activity that is widely accepted throughout society. Institutions provide the rules, guidelines, and structure needed to carry out day-to-day economic activities, such as production, consumption, and exchange.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for defective microphones.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"Don't waste your effort on a thing that results in a petty triumph unless you are satisfied with a life of petty issues. "

-- John D. Rockefeller, industrialist

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Weak Axiom of Profit Maximization
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