Examlex
Unemployment can be caused by downswings in the business cycle, people changing jobs, different skills needed by employers, or seasonal fluctuations in demand.
Political Economy
An interdisciplinary branch that studies the relationships between individuals, governments, and public policy, focusing on the economic implications of political actions.
Adam Smith
A Scottish economist, philosopher, and author known for his theories on free market economics presented in his book "The Wealth of Nations."
Invisible Hand
A metaphor introduced by economist Adam Smith to describe the self-regulating behavior of the marketplace, where individuals acting in their own self-interest inadvertently benefit society at large.
Petty Bourgeoisie
Class of small business owners and employees who own some means of production but do not exploit large labor forces, often seen as part of the middle class.
Q2: Columbia produces coffee with less labor and
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