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To help students understand why governments are needed and what they do for people, the authors of this text recommend developing instruction around the basic idea that
Illegal Exchanges
Transactions that violate the law, such as the trade of banned substances or services.
Gasoline Prices
The cost per unit of gasoline, determined by various factors including crude oil prices, taxes, supply and demand, and refining costs.
Efficiency
The extent to which resources are used in the best way possible to produce goods and services, minimizing waste and costs.
Shortages
A situation where the demand for a product exceeds its supply at a particular price, often leading to increased prices.
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