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measures the severity of cyclical fluctuations in the economy. The difference between peak and...
An externality is the effect of an economic activity on people not actually involved in the...
An imperfect market exists when any one condition necessary for a perfect market is missing....
An oligopoly is a market structure in which a few large suppliers dominate or control the market...
when a floating currency increases in value in terms of other currencies.
Accelerated Shared Growth Initiative for South Africa (macro-economic policy)
any useful or valuable things; people or human qualities including financial assets and physical...
the total cost divided by total number of commodities produced.
total fixed costs of production divided by the output of production