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Given the graph below, use 3 rectangles to find an estimate for the area under the graph from x = 0 to x = 9. Find lower and upper estimates for the area.
Central Planning
A system where economic decisions, such as the allocation of resources, are made by the government or a centralized authority.
Market System
An economic system in which market forces of supply and demand guide the production of goods and services and their distribution.
Property Rights
The theoretical and legal ownership rights assigned to the use, control, and transfer of property, which can be applied to both physical and intellectual properties.
Central Planning
An economic system where decisions regarding production and investment are embodied in a comprehensive plan formulated by a central authority, typically the government.
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