Examlex
The Ptolemaic model of the universe:
Inflation
Inflation is the rate at which the general level of prices for goods and services is rising, eroding purchasing power over time.
Ceteris Paribus
A Latin term used in economics to describe the analysis of a condition under the assumption that all other variables remain unchanged.
Scarcity
The basic economic issue arises from unlimited human desires facing limited resources on the planet.
Free Lunch
A term that implies you cannot get something for nothing, often used in the context that every choice has a cost.
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