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_____ Is the Tendency to Fill in the Gaps Where

question 17

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_____ is the tendency to fill in the gaps where information is missing, that is, to assume that what we do not know is consistent with what we already do know.


Definitions:

World Price

The price at which goods are traded on the global market.

Supply Curves

Graphical representations showing the relationship between the price of a good and the quantity of that good that suppliers are willing to sell.

Demand Curves

A graphical representation that shows the relationship between the price of a good and the quantity demanded by consumers.

World Price

The worldwide market price of a good or service, affected by the balance of global demand and supply.

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