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Basic Economic Terms (lectures)

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Academic Talk (ECONOMICS) - lesson 03

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language vocabulary economics
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Филипп Леонидович
Филипп Леонидович
Bielorrusia

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Basic Economic Terms (lectures)

Academic Talk (ECONOMICS) - lesson 03

Филипп Леонидович
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supply resources price goods service market Scarcity economics value economy demand allocation cost

1 . The of production includes both fixed and variable expenses , which companies must manage efficiently .
2 . The labor dynamics have shifted significantly due to technological advancements and globalization .
3 . of resources necessitates the need for efficient allocation and prioritization in economic planning .
4 . The perceived of a product can greatly influence consumer purchasing decisions , often more than the actual price .
5 . Efficient of resources is a key topic in environmental economics , particularly in the context of sustainable development .
6 . In our seminar today , we'll explore the fundamental principles of , including how markets operate and the role of government intervention .
7 . Manufactured , such as electronics and automobiles , are essential components of international trade .
8 . We will analyze how changes in production technology can increase and affect market prices .
9 . The professor emphasized the importance of understanding how fiscal policies can stabilize an during a recession .
10 . The guest lecturer explained how consumer preferences and income levels drive for luxury goods .
11 . Natural , such as oil and minerals , are vital for the industrial sector and overall economic development .
12 . The sector , including healthcare and education , plays a significant role in the modern economy .
13 . Setting the right for a new product involves analyzing competitors and understanding market demand .

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