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Toddlers may often emulate a model -- a process in which they
Linear
Describes a relationship or function that represents a straight line when graphed, indicating a constant rate of change.
Positive Economics
The branch of economics that concerns the description and explanation of economic phenomena, focusing on facts and cause-and-effect relationships without making judgments.
Normative Economics
The branch of economic analysis that makes prescriptions about the way the economy should work.
Allocatively Efficient
A situation where resources are distributed in a way that maximizes the net benefit to society, often where marginal cost equals marginal benefit.
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