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Every time Billy tries to open the kitchen cupboard,he gets his fingers pinched in the door.Eventually,Billy no longer tries to open the cupboard door.This is an example of
Planned Output
The expected or targeted level of production set by a company or economy, often based on demand forecasts and capacity planning.
Inventories
The total amount of goods and materials held by a company or business in anticipation of sale or completion.
Income-Expenditure Model
A relationship that shows how much people plan to spend at each income level; this model identifies, for a given price level, where the amount people plan to spend equals the amount produced in the economy.
Real GDP
Represents the total economic output of a country, adjusted for inflation, thereby providing a more accurate reflection of an economy's size and growth.
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