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Why was England the exception to the development of absolutism in the 17th century? What factors allowed constitutional monarchy to develop in England?
Leisure
Free time when individuals are not working, which can be used for rest, recreation, or personal activities.
Opportunity Cost
The worth of the best option that was given up to make a choice.
Leisure
Free time when one is not working or occupied; time available for ease, relaxation, and activities one enjoys.
Substitution Effect
Changes in what consumers purchase, brought about by alterations in the relative costs of goods, persuading consumers to opt for alternatives over their usual choices.
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