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Economic Theory
A set of principles and methodologies that economists use to understand, explain, and make predictions about economic processes and behaviors.
Economist's Main Professional Objective
The primary goal of economists is to understand how economies operate and to develop strategies or policies to improve economic welfare and efficiency.
Average Behavior
the typical or mean actions or reactions of a group or individual, serving as a standard or norm for comparing specific behaviors.
Rent Controls
Government-imposed limits on the amount landlords can charge for leasing residential properties to ensure affordable housing.
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