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1. Give and explain one definition of a market. 2. Give and explain one reason why markets fail. 3. Consider the following Definition of GDP

1. Give and explain one definition of a market. 2. Give and explain one reason why markets fail. 3. Consider the following Definition of GDP and put each part in your own words: GDP is a measure of total production It is the market value Of final goods and services That are newly produced Within a country's borders over a period of time

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