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Discuss the Concepts of Product Market Competition and Labor Market

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Discuss the concepts of Product Market Competition and Labor Market Competition. What are they used for?


Definitions:

Westward

Referring to the direction or movement towards the west, often associated with the expansion of American settlements.

Cheap Land

Land that is available for purchase at a relatively low cost, often enticing settlers and investors to new areas or the frontiers.

Appalachian Mountains

A mountain range in the eastern United States, running from Canada to Alabama, known for its biodiversity and the cultural heritage of its inhabitants.

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