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ECONOMIC FORCES: Forces in the marketing environment that include decisions made by consumers and business organizations. The economy tends to follow business cycles of prosperity, recession, depression, and recovery--all which impact decisions made by an organization. It is critical for a business to correctly assess the current and near term trends in the business cycle. Incorrect decisions of inventory buildup, expansion, contraction, etc. can seriously impact a firm's market position and subsequent survivability.

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DATA

Observations or measurements that quantify or otherwise identify some aspect of the real world. Data are used to track economic performance, quantify economic characteristics, and test economic hypotheses. Data collection is often the most challenging part of undertaking an empirical analysis.

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APLS

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Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for mail order catalogs with hidden messages.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"I not only use all the brains that I have, but all that I can borrow. "

-- Woodrow Wilson, 28th US president

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Strong Law of Large Numbers
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