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NATURAL RESOURCES: The naturally occurring resources that are naturally a part of our natural planet which are directed toward production--including land, water, wildlife, vegetation, air, climate, sunshine, mineral deposits, and soil nutrients. Natural resources provide the "stuff" that's used to produce all of the tangible products in the economy, including both consumer goods used for immediate satisfaction of wants and needs and capital used for further production.

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AVERAGE REVENUE PRODUCT CURVE

A curve that graphically illustrates the relation between average revenue product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit revenue at each level of the variable input. The average revenue product curve is one of two related curves often used in the analysis of factor demand. The other, and more important, is marginal revenue product curve.

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Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for crowded shopping malls.
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Lombard Street is London's equivalent of New York's Wall Street.
"Difficulties mastered are opportunities won. "

-- Winston Churchill, Statesman

MU
Marginal Utility
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