goods and services that are harmful in some way; such as cigarettes.
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Type: Glossary
builds engineering projects on behalf of the community.
Type: Glossary
(in currency) when a floating currency reduces in value in terms of other currencies.
Grade 12
Type: Study Card
Depreciation is the decrease in value of an asset or currency.
Type: Glossary
the process that occurs in dry areas and turns productive farmland into non-productive desert as...
Type: Glossary
low- and middle income countries in which most people have a lower standard of living than...
Type: Glossary
marginal utility drops with each additional unit of the product consumed.
Type: Glossary
when the long run average cost per unit rises with an increase in output.
Type: Glossary
the total amount that households have available to spend after paying taxes.