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Figure 6-2
-From Figure 6-2, we can determine that demand is ____ between P = 12 and P = 10 and ____ between P = 6 and P = 4.
Globalization
The process by which businesses, technologies, cultures, and ideas spread across the world, leading to increased interconnectedness and interdependence of nations.
Poverty Line
The minimum level of income deemed adequate in a particular country to live on, used as a standard to classify people into economic categories.
Basic Subsistence
The minimum resources necessary for a person to live, including food, water, and shelter.
Older Adults
Individuals who are in the later stage of their life, often defined as being 65 years or older.
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