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Use the following to answer questions :
Figure: The Time Allocation Budget Line
-If the labour supply curve bends backward,then the backward-bending portion reveals that _____ is a(n) _____ good and the _____ effect is greater than the _____ effect.
Minor Requirement
A smaller or less significant obligation or condition that must be fulfilled, often in addition to major requirements.
De Facto Corporation
A corporation defectively incorporated in good faith that exists in fact though not in law.
Incorporation
The process of legally declaring a corporate entity as separate from its owners, providing it with its own rights, privileges, and liabilities distinct from those of its members.
Lease Agreement
A contract outlining the terms under which one party agrees to rent property owned by another party.
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