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What is the definition of biotic potential?
Economic Recession
a period of temporary economic decline characterized by a decrease in GDP, income, employment, and trade, typically lasting from six months to a year.
Communism
Economic system in which all property would be shared equally by the people of a community under the direction of a strong central government.
Pure Competition
A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information, leading to firms being price takers.
Tax Exemptions
Deductions from taxable income or specific revenues not subject to taxation, often granted to encourage certain activities or investments.
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