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Write the corresponding rectangular equation for the curve represented by the parametric equations by eliminating the parameter.
Capitalist Economy
A system of economy where the ownership of capital resources is in the hands of private individuals or companies, decisions regarding investments are privately made, and the determination of prices, output, and distribution of products is largely governed by the dynamics of competition in a free-market environment.
Price Mechanism
is the process by which the forces of supply and demand determine the price of goods and services in a market economy.
Circular Flow Model
An economic model illustrating the movement of goods, services, and money between households and businesses in an economy.
Demand
The desire and ability of consumers to purchase goods or services at given prices, playing a critical role in determining market prices and quantities.
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