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Define Massification, and Name at Least Three Factors Underlying It

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Essay

Define massification, and name at least three factors underlying it.


Definitions:

Unemployment

The state of being without a job despite actively looking for work, often used as a key economic indicator.

Output Growth

The increase in the amount of goods or services produced by an economy over a period.

Production Possibilities Curve

A graphical representation showing the maximum number of goods or services that can be produced in an economy given available resources and technology.

Scarce Goods

Items that are limited in availability compared to the desires of people to possess them, requiring mechanisms like pricing or rationing to distribute them.

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