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3 Cards in this Set
- Front
- Back
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Planned Economy |
Most decisions about how resources are used ,what is planned, how goods and services or price and allocated,mixed or taken by public sector organizations |
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Disposable income |
Is the amount of income people have left to spend or save after taxes on the income have been deductedPrice elasticity of demand |
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Nice it was to city of demand (ped) |
The responsiveness of quantity demanded to changes in the price of a good or service is known as price elasticity of demand of that product |
