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A Given Percentage Increase in Consumer Demand Can Lead to a Much

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A given percentage increase in consumer demand can lead to a much larger percentage increase in the demand for plant and equipment necessary to produce the additional output. Economists refer to this as ________.


Definitions:

Organic solidarity

A concept in sociology introduced by Émile Durkheim that describes the social cohesion based upon the dependence individuals have on each other in more advanced societies.

Anomie

A state or condition of society characterized by a breakdown or absence of social norms and values, often leading to social instability.

Primary labour market

Denotes sectors within the economy that offer stable, well-paid jobs with good working conditions, benefits, and opportunities for advancement.

Secondary labour market

Consists of jobs with lower pay, lesser benefits, and less job security compared to the primary labor market, often involving manual or clerical work.

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