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when firms do not produce the correct quantity to suit demand as they do not use the resources available to produce the optimal production.
when prices increase; the quantity demanded drops; when prices drop; the demand rises.
the opposite of free trade where restrictions are placed on international trade by import duties...
a statistic that measures the degree of inequality in the distribution of income among...
pollutants that accumulate over the years in water and on the land and cause serious problems....