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when prices increase; the quantity supplied rises; when prices drop; the supply drops.
goods and services that are harmful in some way; such as cigarettes.
the sacrifice that has to be made every time a choice is made because of scarcity.
the percentage of the population that is below 18.
the policy of the government as to how it earns and spends its revenue.
the relationship between the quantity of inputs and the quantity of the output.