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Simplify:
Underconsumption
A situation where consumption is lower than the level that would provide full employment in the economy, often leading to economic downturns.
Income Disparity
The uneven distribution of income across different groups within a society.
First Mover
A company that gains a competitive advantage by being the first to market with a new product or service.
Theory of Absolute Advantage
An economic theory proposed by Adam Smith, which suggests that countries should specialize in the production of goods for which they have an absolute advantage.
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