Term
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Definition
| A simplification of economic reality used to make predictions about the real world |
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Term
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Definition
| Incremental, additional, extra, or one more; refers to a change in an economic variable, a change in the status quo |
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Term
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Definition
| Study of economic behavior in particular markets, such as the market for computers or for unskilled labor |
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Term
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Definition
| Study of the economic behavior of the economy as a whole, especially the national economy |
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Term
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Definition
| The means by which buyers and sellers carry out exchange |
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