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10 Cards in this Set
- Front
- Back
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Government intervention to alter market structure or prevent abuse of market power
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antitrust
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The time period used for comparative analysis; the basis for indexing, e.g., of price changes
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base year
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Final goods produced for use in the production of other goods, e.g., equipment, structures
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capital
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Production processes that use a high ratio of capital to labor inputs
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capital-intensive
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The assumption of nothing else changing
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ceteris paribus
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Goods frequently consumed in combination; when the price of good x rises, the demand for good y falls, ceteris paribus
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complementary goods
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The willingness and ability to buy specific quantities of a good at alternative prices in a given time period, ceteris paribus
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demand
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A curve describing the quantities of a good a consumer is willing and able to buy at alternative prices in a given time period, ceteris paribus
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demand curve
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A table showing the quantities of a good a consumer is willing and able to buy at alternative prices in a given time period, ceteris paribus
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demand schedule
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The consumption of capital in the production process; the wearing out of plant and equipment
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depreciation
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