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Why is punctuated equilibrium an important addition to natural selection?
Economic Theories
Systems of ideas and principles that explain the functioning of economies and guide the analysis and formulation of economic policies.
Circular-Flow Diagram
An illustrative depiction of the economy demonstrating the circulation of currency among markets, households, and companies.
Firms
Firms are business organizations engaged in industrial, commercial, or professional activities, aiming to generate profits.
Circular Flow Model
An economic model that depicts the continuous flow of money, goods, services, and factors of production between households and businesses in an economy.
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