Terms
13 new/unreviewed 13 total
Term
Specialization
Definition
An individual or business focuses on producing one product and trades for other products they want
New/Unreviewed
Term
What are the 5 demand shifters?
Definition
1. Preferences 2. Number of buyers 3. Income 4. Price of related goods 5. Expectations
New/Unreviewed
Term
Elasticity
Definition
Relates the percent change in one variable to the percent change in another variable
New/Unreviewed
Practice Tests
0 total
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