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ECONOMIC GOOD: The transformation of limited resources for the purpose of satisfying unlimited wants and needs. You might detect a similarity between the term economic good and the term scarcity. The reason is that "economic good" is another term for scarce good. We call a scarce good an economic good because a scarce good is one that can be traded through markets.

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ECONOMY

The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.

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Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for defective microphones.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth ‚ and his humanity. "

-- Peter Drucker, author

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