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Web In this module we discuss some of the components of economic growth including physical capital human capital and technology. Last Word If variables X and Y are positively correlated this means that.

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. In economics the concept of demand is defined as the desire to own something. That has not yet been manufactured or produced. Web A tariff is treated like a cost of production so this affects supply.

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We show this as a downward or rightward shift in supply. A tariff reduction is equivalent to a decrease in the cost of production which we can show as a rightward or. Web 1control of scarce resources inputs.

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