Struggling with your prescribed literature?
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involving people or businesses who start and run new enterprises or ventures.
producers that cannot influence the total market supply or the price of the products.
the costs that change with the amount of output such as raw materials and wages.
(also called a centrally planned economy, socialism or communism) an economic system that is...
the sacrifice that has to be made every time a choice is made because of scarcity.
taxes charged on locally produced goods of a luxury or harmful nature.