Examlex
If nominal GDP is 100,000 and real GDP is 80,000,the GDP deflator is 115.
Renewable Resource
A natural resource that can replenish itself naturally over time, such as solar energy, wind, and forestry.
Invisible Hand
A concept introduced by Adam Smith to describe the self-regulating nature of the market through individuals' pursuit of their own interests.
Consumption
The act of using goods and services to satisfy needs and desires.
Entrepreneurs
Individuals who take on the risk of starting and managing a business, often bringing innovation and new products or services to the market.
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