Glossary

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structure of an economy

Subject: 

  • Economics

the way the GDP is produced in terms of the sector that produces it.

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tertiary activities
Subject:
Economics

commerce and infrastructure services.

manufacturing industry
Subject:
Economics
headline inflation
Subject:
Economics

the rate that includes all goods and services and is not adjusted.

price inelastic supply
Subject:
Economics

the supply decreases very little in relation to a large change in price.

law of demand
Subject:
Economics

when prices increase; the quantity demanded drops; when prices drop; the demand rises.