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a network of institutions that dispose and regenerate available resources 2. the total profits less total costs of productions 3.
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1. a network of institutions that dispose and regenerate available resources
2. the total profits less total costs of productions
3. the ultimate motive of capitalists in penetrating 3rd World economies
4. an organization in communistic economies that formulates economic policies
5. an economic system with minimal government intervention
6. a matrix showing levels of outputs producers are willing to sell
7. a principle of a sound economic system subject to legal and moral values
8. a criterion in judging an economic system marked by reduced rates of inflation
9. the type of production that considers great proportions of labor over capital
10. an economic system in which the role of the private sector is minimal
11. a type of demand elasticity in which a change in price creates no change in QD
12. a scholarly attempt that explains the components of a market structure
13. the consumers’ responses to price instability in relation to their income
14. a discipline descriptive of a nation’s economic behavior at large
15. the law that states that when supply exceeds demand, price declines
16. the producers’ reactions to a decline in the equilibrium price
17. the process of transforming fixed and variable inputs into commodities
18. a technical combination of production inputs and obtainable outputs
19. the additional product brought about by one additional unit of a variable input
20. refers to the type of elasticity that shows the relationship between two products
21. a situation in which the vital ingredients for production are too limited
22. a general condition of un-productivity given scarce resources & opportunities
23. an organized team effort to produce and sell goods and services
24. a systematic study that determines profitability of an entrepreneurial activity
25. a phenomenon that describes inequitable allocation of economic resources
26. the graphical representation or equivalent of a firm’s production function
27. the techniques, procedures and methods used in production of goods
28. an amount that reduces production costs usually granted by the government
29. the theory prescribing acceleration of production as a response to economic problems caused by rapid population growth
30. a system that generates resources for the government to defray expenses
31. a general situation in which equilibrium prices rise due to market factors
32. refers to the positive consequences brought about by foreign investments
33. the type of economy (French equivalent) characterized by free trade
34. the market situation that regulates the flow of resources between economies
35. a type of elasticity that shows increases in QS given a constant market price
36. a graph that shows the same utilities for any combination of two products
37. a line that represents consumption possibilities given a consumer’s income
38. otherwise known as ‘unit cost’ in the production of goods
39. a ‘portion’ of the total cost that is sufficient to maintain current production
40. the cost foregone in ‘trading off ’ goods or services due to preferences & income