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A population of 8,250 mice occupies the sand dunes in a coastal area. A severe hurricane washes out several miles of sand dunes. As a result, only 50 mice remain. The population has experienced
Pure Capitalism
An economic system characterized by private ownership of the means of production and where investments, distribution, income, production, and prices are determined by the market.
Owns No Resources
The condition of not having access to or control over any assets, capital, or means of production.
Production Possibilities Frontier
A curve that shows the different combinations of various goods that a country can produce given certain resources and technology.
Full Employment
Employment level when there is no cyclical unemployment.
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