Instructions: Identify the Following Terms

question 89

Short Answer

Instructions: Identify the following terms.
Ferdinand Magellan

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Definitions:

Duopoly Market

A market structure where two companies own all or nearly all of the market for a given product or service.

Quantity Rise

An increase in the amount of goods or services produced or supplied.

Price Rise

An increase in the cost of goods or services, commonly referred to as inflation in economic contexts.

Dominant Strategy

A tactic in game theory that remains optimal for an individual, irrespective of the choices made by their counterparts.