Examlex
An airplane flies in a horizontal circle of radius 500 m at a speed of 150 m/s. If the plane were to fly in the same 1000 m circle at a speed of 300 m/s, by what factor would its centripetal acceleration change?
Consumer Sovereignty
The concept that consumers' preferences and decisions dictate the production of goods and services in an economy, emphasizing the power of consumer choice.
Market Economy
An economic system where supply and demand from private enterprise make all the economic decisions.
Economic Profit
The split between entirety of income and the full scope of expenditures, considering both clear and implicit financial obligations.
Production Techniques
Methods and processes used in the creation of goods and services, influenced by technology, labor skills, and resource availability.
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