Examlex
In how many ways can seven different books arranged on a shelf?
Good
A tangible product or commodity that satisfies human wants or needs.
Resources
An input used to produce economic goods. Land, labor, skills, natural resources, and human-made tools and equipment provide examples. Throughout history, people have struggled to transform available, but limited, resources into things they would like to have—economic goods.
Demand Falls
This occurs when there is a decrease in the desire or willingness of consumers to purchase a good at a given price, leading to potential shifts in the market equilibrium.
Economic Losses
Financial losses experienced by businesses or economies due to factors such as poor investments, natural disasters, or reduced consumer spending.
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