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New & Updated Notes



New & Updated Notes





Micro

New: Market Equilibrium

The point at which the quantity demanded by consumers exactly equals the quantity supplied by producers.

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Business

Updated: Monopoly

A situation in which a single company or group owns all or nearly the entire market share for a given type of product or service.

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International

Updated: Deflation

A general and sustained fall in the price level.

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Macro

Updated: Aggregate Demand

The total planned level of spending on goods and services produced in an economy.

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