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As the concept of economics is discussed, many terms are used to describe how economics works in the real world. These terms will be defined so that they will be understood throughout the discussion of the economy and market demand.
Term Definition Paper
Terminology
To help understand the concept of economics, terms are defined and used to describe the economy and market demand. The terms Gross Domestic Product (GDP), Real Gross Domestic Product, Unemployment Rate, Inflation Rate, and Interest Rate, help to break down the analysis of economics and give a better understanding of the direction our economy is headed...
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