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If the number of sellers in a market increases, then the
Economic Organization
The structured system of production, distribution, and consumption of goods and services within a society or economy.
Base Year
A reference year against which economic growth, inflation, and other economic indicators are measured to assess changes over time.
A W Phillips
An economist known for the Phillips Curve, which suggests an inverse relationship between unemployment and inflation rates.
Unemployment Rate
The quota of the working-age population that is without a job and searching for one.
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