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Below are definitions of concepts, fill in the blanks with the correct concept associated with the phrase/definition:
Below are definitions of concepts, fill in the blanks with the correct concept associated with the phrase/definition:
In this economic system government makes all decisions and owns most of the property: []
Human specialization that leads to increase in output as it saves time, improves ability and enhances learning by doing []
When consumers decide what goods get produced in an economy []
Creation of new products completely destroys the market position of firms that are wedded to existing products and older ways of doing business []
A curve that shows combinations of two goods that a consumer can afford []
