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Heuristic rules are usually applied when
Savings
The portion of income not spent on consumption, often put aside for future expenses, investment, or emergencies.
Industrial Revolution
The period of major industrialization that took place during the late 1700s and early 1800s which transformed economies that had been based on agriculture and handicrafts into economies based on large-scale industry, mechanized manufacturing, and the factory system.
Productivity Growth
An increase in the efficiency of producing goods or services within an economy, often leading to more output for the same amount of inputs.
Raise Savings
Encouraging or implementing strategies to increase the amount of money that individuals or entities set aside for future use rather than spending immediately.
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