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Flashcards - Microeconomics Overview

Flashcards - Microeconomics Overview
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economy
An economy is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location
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3 cards in set
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economy
An economy is an area of the production, distribution, or trade, and consumption of goods and services by different agents in a given geographical location
productivity
Productivity is an average measure of the efficiency of production
oligopoly
An oligopoly is a market form in which a market or industry is dominated by a small number of sellers

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