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Purchasing Power Parity
Purchasing power parity (PPP) is an economic theory that states that the exchange rate between two countries is equal to the ratio of the currencies' respective purchasing power. Theories that invoke purchasing power parity assume that in some circumstances (for example, as a long-run tendency) it would cost exactly the same number of, for example, US dollars to buy euros and then to use the difference in value to buy a market basket of goods as it would cost to directly purchase the market basket of goods with dollars. A fall in either currency's purchasing power would lead to a proportional decrease in that currency's valuation on the foreign exchange market. The concept of purchasing power parity allows one to estimate what the exchange rate between two currencies would have to be in order for the exchange to be at par with the purchasing power of the two countries' currencies
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Capital Asset
A capital asset is defined to include property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession. It includes all kinds of property, movable or immovable, tangible or intangible, fixed or circulating. Thus, land and building, plant and machinery, motorcar, furniture, jewellery, route permits, goodwill, tenancy rights, patents, trademarks, shares, debentures, securities, units, mutual funds, zero-coupon bonds etc. are capital assets.Contents1 Excluded from the definition 2 Specific common definitions 3 US tax definition versus broader economic definition 4 See also 5 ReferencesExcluded from the definition[edit]This section has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)This section needs additional citations for verification
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Market Power
In economics and particularly in industrial organization, market power is the ability of a firm to profitably raise the market price of a good or service over marginal cost. In perfectly competitive markets, market participants have no market power. A firm with total market power can raise prices without losing any customers to competitors. Market participants that have market power are therefore sometimes referred to as "price makers" or "price setters", while those without are sometimes called "price takers". Significant market power occurs when prices exceed marginal cost and long run average cost, so the firm makes profit. A firm with market power has the ability to individually affect either the total quantity or the prevailing price in the market. Price
Price
makers face a downward-sloping demand curve, such that price increases lead to a lower quantity demanded
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Price Index
A price index (plural: “price indices” or “price indexes”) is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time. It is a statistic designed to help to compare how these price relatives, taken as a whole, differ between time periods or geographical locations. Price
Price
indices have several potential uses. For particularly broad indices, the index can be said to measure the economy's general price level or a cost of living. More narrow price indices can help producers with business plans and pricing
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Big Mac
The Big Mac
Big Mac
is a hamburger sold by international fast food restaurant chain McDonald's. It was introduced in the Greater Pittsburgh
Pittsburgh
area, United States, in 1967 and nationwide in 1968. It is one of the company's signature products.Contents1 History 2 Product2.1 Special
Special
sauce 2.2 Packaging3 Advertising3.1 Two all-beef patties slogan 3.2 1980s advertising 3.3 2005 advertising4 Variants 5 McDonaldland
McDonaldland
character 6 Museum 7 Nutritional values per geographical location 8 See also 9 References 10 Further reading 11 External linksHistory The Big Mac
Big Mac
was created by Jim Delligatti, an early Ray Kroc franchisee,[1] who was operating several restaurants in the Pittsburgh area
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Hamburger
A hamburger, beefburger or burger is a sandwich consisting of one or more cooked patties of ground meat, usually beef, placed inside a sliced bread roll or bun. The patty may be pan fried, barbecued, or flame broiled. Hamburgers are often served with cheese, lettuce, tomato, bacon, onion, pickles, or chiles; condiments such as mustard, mayonnaise, ketchup, relish, or "special sauce"; and are frequently placed on sesame seed buns. A hamburger topped with cheese is called a cheeseburger. The term "burger" can also be applied to the meat patty on its own, especially in the UK where the term "patty" is rarely used, or the term can even refer simply to ground beef
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Perfect Competition
In economics, specifically general equilibrium theory, a perfect market is defined by several idealizing conditions, collectively called perfect competition. In theoretical models where conditions of perfect competition hold, it has been theoretically demonstrated that a market will reach an equilibrium in which the quantity supplied for every product or service, including labor, equals the quantity demanded at the current price. This equilibrium will be a Pareto optimum, meaning that nobody can be made better off by exchange without making someone else worse off.[1] Perfect competition
Perfect competition
provides both allocative efficiency and productive efficiency:Such markets are allocatively efficient, as output will always occur where marginal cost is equal to marginal revenue (MC = MR). In perfect competition, any profit-maximizing producer faces a market price equal to its marginal cost (P = MC)
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Product Differentiation
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others, to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as a firm's own products. The concept was proposed by Edward Chamberlin in his 1933 The Theory of Monopolistic
Monopolistic
Competition.[1]Contents1 Rationale 2 History 3 Vertical Product Differentiation 4 Horizontal Product Differentiation 5 Substitute Goods and Product Differentiation 6 Interaction between Horizontal and Vertical Differentiation: An Application to Banking 7 See also 8 References 9 External linksRationale[edit]Aisles in a supermarket
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Substitute Good
A substitute good is one good that can be used instead of another. In consumer theory, substitute goods or substitutes are products that a consumer perceives as similar or comparable, so that having more of one product makes them desire less of the other product. Formally, X and Y are substitutes if, when the price of X rises, the demand for Y rises. Potatoes from different farms are an example: if the price of one farm's potatoes goes up, then it can be presumed that fewer people will buy potatoes from that farm and source them from another farm instead. There are different degrees of substitutability
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Vada Pav
Vada Pav, alternatively spelt Vada Pao, Wada Pav, or Wada Pao, is a vegetarian fast food dish native to the Indian state of Maharashtra. The dish consists of a deep fried potato dumpling placed inside a bread bun (pav) sliced almost in half through the middle. It is generally accompanied with one or more chutneys and a green chilli pepper.[1] It originated as cheap street food in Mumbai, but is now served in food stalls and restaurants across India. It is also called Bombay Burger[2] in keeping with its origins and its resemblance in physical form to a burger.Contents1 Meaning 2 Preparation 3 History 4 Gallery 5 See also 6 ReferencesMeaning[edit] Vada comes from the Marathi compound word batata vada, which means "potato fritter". Pav is a derivative of the Portuguese word "pão", which means sweetened bread. Preparation[edit] Boiled potato is mashed and mixed with spices, usually with green chilli, garlic, asafoetida, turmeric, and mustard seeds
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United States Dollar
 United States  East Timor[2][Note 1]  Ecuador[3][Note 2]  El Salvador[4]  Federated States of Micronesia  Marshall Islands  Palau  Panama[Note 3]  Zimbabwe[Note 4]3 non-U.S
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Commonwealth Securities
Commonwealth Securities, also known as CommSec, is Australia's largest online stockbroking firm operated by the Commonwealth Bank
Commonwealth Bank
of Australia. It offers a telephone based brokerage service and advisory service, though its Internet trading platform constitutes the vast majority of its business.[1]Contents1 History1.1 Mergers and Acquisitions2 Services 3 Cash management 4 References 5 External linksHistory[edit] The brokerage arm started operations in 1995 and launched its share trading website in 1997.[2][3] CommSec initially offered only Australian equities trades, but has since expanded into derivative products, international equities, managed funds, self-managed super fund (SMSF) administration, contracts-for-difference (CFDs), margin lending and short-term deposits
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Market Research
Market research
Market research
(also in some contexts known as industrial research) is any organized effort to gather information about target markets or customers. It is a very important component of business strategy.[1] The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets.[2] Market research
Market research
is one of the key factors used in maintaining competitiveness over competitors. Market research
Market research
provides important information to identify and analyze the market need, market size and competition
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KFC
www.kfc.com This box:view talk editKFC, until 1991 known as Kentucky
Kentucky
Fried Chicken,[4] is an American fast food restaurant chain that specializes in fried chicken. Headquartered in Louisville, Kentucky, it is the world's second-largest restaurant chain (as measured by sales) after McDonald's, with almost 20,000 locations globally in 123 countries and territories as of December 2015[update]. The chain is a subsidiary of Yum! Brands, a restaurant company that also owns the Pizza Hut
Pizza Hut
and Taco Bell
Taco Bell
chains. KFC
KFC
was founded by Colonel Harland Sanders, an entrepreneur who began selling fried chicken from his roadside restaurant in Corbin, Kentucky during the Great Depression
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Gasoline
Gasoline
Gasoline
(American English), or petrol (British English), is a transparent, petroleum-derived liquid that is used primarily as a fuel in spark-ignited internal combustion engines. It consists mostly of organic compounds obtained by the fractional distillation of petroleum, enhanced with a variety of additives. On average, a 42-gallon barrel of crude oil (159 L) yields about 19 US gallons (72 L) of gasoline when processed in an oil refinery, though this varies based on the crude oil source's assay. The characteristic of a particular gasoline blend to resist igniting too early (which causes knocking and reduces efficiency in reciprocating engines) is measured by its octane rating. Gasoline
Gasoline
is produced in several grades of octane rating
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Household Final Consumption Expenditure
Household final consumption expenditure (HFCE) is a transaction of the national account's use of income account representing consumer spending. It consists of the expenditure incurred by resident households on individual consumption goods and services, including those sold at prices that are not economically significant. It also includes various kinds of imputed expenditure of which the imputed rent for services of owner-occupied housing (imputed rents) is generally the most important one
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