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What is backward fading and why would a teacher us it?
Circular-flow Diagram
A Circular-Flow Diagram represents an economic model visually demonstrating the movement of money through markets between households and companies.
Financial Assets
Assets that are paper claims on some return or income, such as stocks, bonds, or bank deposits.
Factors Of Production
Elements involved in generating goods and services, such as land, workforce, financial investment, and entrepreneurial skill.
Production Possibilities Frontier
A graph that shows the highest production levels of two products, based on available resources and various factors.
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