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-In stating that the natural scientist, just like the social scientist, is 'socially and politically embedded within a complex
and densely structured institutional and cultural landscape, which they cannot simply escape by climbing the ivory tower of academe to look down with scientific dispassion and disinterest on all they survey', Hay highlights the limitations of value-free research in both natural and social science.
Equilibrium Quantity
The quantity of goods or services supplied is exactly equal to the quantity demanded at the market price.
Market Demand
The total quantity of a good or service that all consumers in a market are willing and able to purchase at a given price.
Tax Revenue
Income that is gained by governments through taxation, used to fund public services and government obligations.
Demand Curve
A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping to the right.
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