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Quantity Supplied
The total amount of a specific good or service that producers are willing and able to sell at a given price over a certain period of time.
Real Gross Domestic Product
Real Gross Domestic Product (Real GDP) measures the value of all goods and services produced by an economy over a specific period, adjusted for inflation, reflecting the actual growth in economic output.
Price Level
An average of the current prices of goods and services in an economy, which can fluctuate with changes in production, demand, and inflation.
Laissez-Faire
An economic philosophy of free-market capitalism that opposes government intervention.
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