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MATCHING
Match each description with the item below.
-Samuel F. B. Morse
Complementary Factors
Complementary factors in economics refer to goods or inputs that are used together in production or consumption, where an increase in demand for one leads to an increase in demand for the other.
White-collar Employment
Jobs that typically involve professional, managerial, or administrative work, often in an office setting, as opposed to blue-collar jobs that involve manual labor.
Substitution Effect
The change in demand for a good due to a change in its price, leading consumers to substitute it with another product.
Output Effect
When the price of any resource rises, the cost of production rises, which, in turn, lowers the supply of the final product. When supply falls, price rises, consequently reducing output.
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