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NET WORTH: The difference between a firm's assets and liabilities, which is the value of a company's assets after deducting liabilities. With assets being what a company owns and liabilities what a company owes, net worth can be thought of as what the company owes to the owners. Net worth is also a measure of wealth.

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COMPETITION

In general, the actions of two or more rivals in pursuit of the same objective. In an economic context, the specific objective pursued is usually either selling goods to buyers or buying goods from sellers.

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Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for a thesaurus filled with typos.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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