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Briefly explain two characteristics of an individualistic culture.
Short-run Equilibrium
A state in which supply and demand are balanced, prices are stable, and there's no tendency for change in the short term.
Aggregate Supply
The comprehensive stock of goods and services intended for sale by firms within an economy throughout a certain duration.
Economy
An economy encompasses all the production, distribution, and consumption of goods and services within a particular geographic region. It involves activities related to wealth and resources.
Minimum Wage
The lowest legal wage that can be paid to most workers, set by government laws or regulations, intended to ensure a basic standard of living.
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