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Speciation cannot occur without geographic isolation.
Safety Stock
Inventory kept on hand to protect against variability in demand or lead time.
Average Inventory
The mean stock level held by a business over a certain period of time, calculated to manage and evaluate inventory efficiently.
Aggregate Supply Curve
A graph showing the relationship between the total output produced by an economy and the price level for output, over a period.
Actual Price Level
The current index of prices for goods and services, reflecting inflation or deflation in an economy.
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