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Predict the sign of ΔS of the system for both of the following. I.2 C(graphite) + O2(g) → 2 CO(g)
II.C4H10(g) → C4H10(l)
Living in Poverty
The condition of having insufficient resources or income to meet basic life needs.
Invisible Hand
A metaphor introduced by Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interests unintentionally benefit society as a whole.
Price Mechanism
The way in which prices rise and fall as a result of changes in demand and supply, guiding the allocation of resources in a market economy.
External Benefit
A benefit from a good or service that is received by someone not directly involved in the transaction or production of that good or service, also known as a positive externality.
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