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Productive Capacity
The maximum output that an economy can produce without increasing inflation, given its current level of resources.
Equity
Fairness or justice in the way people are treated or the distribution of resources, often distinguished from equality by focusing on needs and outcomes.
Efficiency
The optimal use of resources to achieve the best possible outcome or output without wasting resources.
Market Economy
An economic system in which supply and demand determine the production of goods and services.
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