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1
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an arrangement that allows buyers and sellers to exchange things.
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2
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financial gain made in transaction.
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3
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transforms inputs or factors of production into outputs or products.
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5
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the power of consumer to decide what gets produced.
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8
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the point at which quantity demanded and quantity supplied are equal.
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14
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an expectation that encourages people to bahave in a certain way.
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15
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the direct exchange of one set of goods or services for another.
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16
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owns factors of production.
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17
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desire to won something and the ability to pay for it.
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20
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the amount of goods available.
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