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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.

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SUPPLY SHOCK

A disruption of market equilibrium caused by a change in a supply determinant and a shift of the supply curve. A supply shock can take one of two forms--a supply increase or a supply decrease. This is one of two disruptions of the market. The other is a demand shock.

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APLS

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Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for defective microphones.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"Even a mistake may turn out to be the one thing necessary to a worthwhile achievement."

-- Henry Ford

JEP
Journal of Economic Perspectives
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