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What are terms of trade?
Top Group
The highest performing or most privileged segment within a defined category or population, often based on metrics such as income, achievement, or status.
Market Economy
An economic system where supply and demand from consumers drive the production of goods and services.
Income Distribution
How a nation’s total GDP is spread amongst its population, impacting the economic welfare of its citizens.
Relative Scarcity
Relative scarcity refers to the situation where a resource is limited in supply when compared to the demand for it.
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