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Economics

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Vern Kovacek

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Cards in this guide (5)
Who are the people or businesses who create goods services or both for sale

producers

Which Individual Makes All Decisions And Gains All Profits

the owner

Why is labor considered an active factor of production

it can be increased or decreased based upon demand

The point at which supply meets demand and all of a product will usually be purchased is known as what

equilibrium price

Which term refers to the decrease in value of goods after they are sold

Depreciation

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