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1. What are the factors of production? Is one factor more important than the others? If so, which one? Why? 2. What is a demand

1. What are the factors of production? Is one factor more important than the others? If so, which one? Why? 2. What is a demand curve? A supply curve? What is the term for which they intersect? 3. What is GDP? Real GDP? What does each measure? 4. Why is inflation both good and bad? How does the government try to control it?

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