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3 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Market Failure
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A situation in which a market economy leads to a socially undesirable effect
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Krugman chapter 1
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Opportunity cost
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Whatever is given up in the process of making a choice within an economy
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Krugman chapter 1
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Macroeconomics
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The study of broader up and downs within an economy
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Krugman chapter 1
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