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The 10-year rule for expert performance highlights the importance of
Structural Unemployment
People who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones.
Specialized Knowledge
Expertise or skills focused on a specific branch of study, occupation, or field of endeavor, distinguished by its depth and proficiency.
Cost-Push Inflation
Inflation caused by an increase in prices of inputs like labour, raw material, etc., leading to a decrease in the supply of these goods.
Raw Materials
Fundamental materials that are used in the production process to create goods and products.
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